You are considering purchasing stock in Canyon Echo. You feel the company will increase its dividend at 3.6 percent indefinitely. The company just paid a dividend of $3.71 and you feel that the required return on the stock is 12 percent. What is the price per share of the company's stock?

A) $45.76 B) $41.18 C) $43.47 D) $30.92 E) $44.17