Far Side Corporation is expected to pay the following dividends over the next four years: $11, $7, $5, and $3. Afterward, the company pledges to maintain a constant 5 percent growth rate in dividends forever. Required: If the required return on the stock is 12 percent, what is the current share price? (Do not round your intermediate calculations.)

$49.47

$46.99

$56.40

$50.95

$48.06