Lohn Corporation is expected to pay the following dividends over the next four years: $12, $8, $6, and $3. Afterward, the company pledges to maintain a constant 7 percent growth rate in dividends forever.

If the required return on the stock is 16 percent, what is the current share price?

$39.41 $42.73 $41.49 $40.33 $48.77