Questions 21 - 24 are based on the following information relating to Tupelo Turbine Corporation. The company paid a dividend of $ 56 per share quarterly, totaling to $2.24 for the most recent full year, on its common stock Based on a study of the risk of owning this stock, analysts at Walnut Investment Funds have determined that the required annual rate of return should be ke or 8.4%. Finally a fourth analyst, Mr. Trunk, considers the strength of Tupelo Turbine's product lines in growing international markets. He has adopted the expectation that earnings and dividends will grow by 24% in year 1. by 10% in year 2, and by 8% in year 3, before leveling off to a fairly steady pattern that can serisibly be modeled as 1.8 constant annual growth in year and all following years. Under the set of assumptions, what is the highest price analyst Trunk thinks the Walnut funds should be willing to pay for a share of Tupelo Turbine Corporation's common stock? A $49.53 B$50.17 C. $33.80 D. 546.91 E 561.71