LA Diversified Inc. recently paid its annual dividend of $3. Dividends have consistently grown at a rate of 3.8%. The stock has a beta of 1.29. The current risk-free rate is 2% and the market return is 10%. Assuming that CAPM holds, what is the intrinsic value of this stock?

$35.22

$36.55

$37.22

$39.74

$35.84