Lawrenece Marine Products Corp. paid dividends on its common stock last year of $2.40 per share. The company expects dividends to grow 6%, 12% and 17% for the next three years, then the average annual growth rate is expected to be 6% thereafter. If investors believe a total return for this stock should be 13.50%, what is their estimate of the stock price today? Compute to four decimal places.

A) $41.96

B) $38.96

C) 33.78

D) 34.90

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