Analysts project that dividends for Industrial Amalgamated will be $$3\mathrm{.}40$ per share

next year and are expected to grow at $2\mathrm{.}9\%$ per year indefinately. If investor's have a

required return of $18\mathrm{.}5\%,$ how much should the stock sell for?

$$21\mathrm{.}79$

$$22\mathrm{.}25$

$$32\mathrm{.}42$

$$33\mathrm{.}16$

$$33\mathrm{.}89$