Jacks Jumpers is expected to pay out dividends as follows: A $C dividend will be paid one year from today. Each subsequent dividend will be paid yearly, and grow by 3% per year. The final dividend will be paid 30 years from today. After the final dividend is paid, the company will go out of business and never pay out anything to stock holders again. Find C if the effective annual discount rate is 10% and the current stock value is $50 per share.

ANSWER c= $4.06