Te following information is available about a company:

Next years sales revenue $180 million

Next years net profit margin 15%

Dividend payout ratio 60%

Dividend growth rate expected during Years 2 and 3 25%

Dividend growth rate expected after Year 3 5%

Investors required rate of return 12%

Number of outstanding shares 8.1 million

The current value per share of the companys common stock according to the two-stage dividend discount model is closest to:

A $39.36. B $49.20. C $52.86.