The company just paid a dividend of $1.35 per share. The company will increase its dividend by 24 percent next year and will then reduce its dividend growth rate by 6 percentage points per year until it reaches the industry average of 6 percent dividend growth, after which the company will keep a constant growth rate forever. If the required return on the stock is 12 percent, what will a share of stock sell for today?

		35.56
		32.46
		31.34
		39.08