If your stock paying annual dividends will pay a dividend D1 at t=1 of $1 and have a growth rate of 11.6 between t=1 and t=2, and with a constant growth rate of 4.9 thereafter into the future, what should be the value of the stock at t=0 if the expected rate of return for the stock is 8.7?

$28.41

$30.94

$24.89

$32.65