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You want to buy a stock. The last dividend was $2.00. Dividends are expected to grow at 9.00% per year for 3 years and then

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You want to buy a stock. The last dividend was $2.00. Dividends are expected to grow at 9.00% per year for 3 years and then in year 4, the growth rate will slow to 5.00% per year. That 5.00% rate will continue indefinitely into the future. If you demand a 12.00% annual return on your investment, what will you be willing to pay for a share? Round answer to the nearest penny. $27.65 $33.34 $34,39 $38.85 $40.33

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