Nachman Industries just paid a dividend of D0=$1.75. Analysts expect the company's dividend to grow by 30% this year, by 10% in Year 2, and at a constant rate of 4% in Year 3 and thereafter. The required return on this low-risk stock is 9.00%. What is the best estimate of the stock's current market value? Do not round intermediate calculations. a. $49.75 b. $58.96 c. $46.32 d. $44.39 e. $48.00