Suppose that stockbrokers have projected that Jamestown Savings will pay a dividend of $$2,50$ per share on its common stock at the end of the year; a dividend of $$3\mathrm{.}25$ per share is expected for the next year, and $$4\mathrm{.}00$ per share in the following two years. The risk$-$adjusted cost of capital for banks in Jamestown's risk class is $16\%.$

If an investor holding Jamestown's stock plans to hold that stock for only $4$ years and hopes to sell it at a price of $$50$ per share, what would be the value of the bank's stock be in today's market?

$$36\mathrm{.}96$

$39\mathrm{.}47$