QUESTION $14$

The growth in dividends of Torque, Inc. is expected to be $8\mathrm{.}2\%$ per year for the next two years, followed by a growth rate of $4\mathrm{.}1\%$ per year for two years. After this fouryear period, the growth in dividends is expected to be $3\mathrm{.}1\%$ per year, indefinitely. The required rate of return on Torque, Inc. is $11\%.$ Last years dividends per share were $$2\mathrm{.}8.$ What should the stock sell for today? Choose the closest answer.

a$.$ $$39\mathrm{.}85$

b$.$ $$38\mathrm{.}42$

c$.$ $$40\mathrm{.}76$

d$.$ $$37\mathrm{.}67$