You are considering purchasing stock in Canyon Echo. You feel the company will increase its dividend at $4\mathrm{.}3$ percent indefinitely. The company just paid a dividend of $$3\mathrm{.}52$ and you feel that the required return on the stock is $11\mathrm{.}3$ percent. What is the price per share of the company's stock?

Multiple Choice

$$50\mathrm{.}29$

$$31\mathrm{.}15$

$$52\mathrm{.}45$

$$47\mathrm{.}20$

$$49\mathrm{.}83$