LA Diversified Inc. recently paid its annual dividend ($3.00). Dividends have consistently grown at a rate of 3.80%. The stock has a beta of 0.88. The current risk-free rate is 2.40% and the market risk premium (RM - RF) is 8.50%. Assuming that CAPM holds, what is the intrinsic value of this stock?

$50.39

$54.94

$50.28

$51.22

$52.79