You are analyzing HUE stock. You expect that the dividends over the next three years will be $1.75 in year 1, $1.90 in year 2, $2.00 in year 3 and that HUEs stock price will be $46.32. What is the intrinsic value of HUEs stock today if your required return is 12 percent?

Group of answer choices

$26.84

$37.47

$32.97

$34.43