Growing, Inc. is a firm that is experiencing rapid growth. The firm yesterday paid a dividend of $3.80. You believe that dividends will grow at a rate of 12.0% per year for three years, and then at a rate of 6.0% per year thereafter. You expect that the stock will sell for $63.16 in three years. You expect an annual rate of return of 18.0% on this investment. If you plan to hold the stock indefinitely, what is the most you would pay for the stock now? \begin{tabular}{|l} \hline$42.20 \\ \hline$34.60 \\ \hline$48.72 \\ \hline$29.22 \\ \hline$38.98 \end{tabular}