Nachman Industries just paid a dividend of D₀ = $1.32. Analysts expect the company's dividend to grow by 30% this year, by 10% in Year 2, and at a constant rate of 5% in Year 3 and thereafter. The required return on this low-risk stock is 9.00%. What is the best estimate of the stocks current market value?

		$41.59
		$42.65
		$43.75
		$44.87
		$45.99