Question $25(1$ point$)$

Mason Company will pay out a dividend of $$3\mathrm{.}60$ one year from today $($i$.$e$.,D_1=$

$3\mathrm{.}60).$ Its required rate of return is $11\%.$ If the market expects that the dividend will

grow at a constant rate of $3\mathrm{.}1\%$ per year forever, Mason's stock should sell for

$ today.

$47\mathrm{.}37$

$41\mathrm{.}43$

None of the answers in this list is within $$1$ of the correct answer.

$43\mathrm{.}64$

$49\mathrm{.}50$

$45\mathrm{.}57$