Earlier today, Chevron paid a dividend of $1. Their dividends have grown at a rate of 4% every year for the past 15 years and they have a Beta of 0.77. The risk-free rate is 3% and the market risk premium is 6.25%. Assuming the historical growth rate remains constant forever, what is the intrinsic value of this stock?

		$27.28
		$41.99
		$55.56
		$12.14