Question $30(1$ point$)$

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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.

$43\mathrm{.}64$

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

$41\mathrm{.}43$

$47\mathrm{.}37$

$45\mathrm{.}57$

$49\mathrm{.}50$