EMKA corporation is going to pay a dividend of $0.5, $1.1, and $1.2 each year for the next three years. Afterwards, it is planing to increas the dividends at a constant rate of 10% indifinitely. How much should the stock be sold for if the required rate of return is 12%? Select one: a.

$49.60 b. $50.2 c. $48.17 d. $51.64