What comes closest to the value today of a stock that just paid a dividend of $1.40 and expects to grow that dividend by 7.00% per year in year 1 and year 2, and then grow but will then see the growth in dividends fall to 2.25% in the third year and will continue to grow at that lower rate each year thereafter forever. Using a required rate of return of 6.25%, provide an estimate of the price of the stock.

		$35.79
		$186.67
		$36.99
		$35.00
		$39.12