Question 4) Stock ABC is expected to pay a dividend of $1.50 in exactly 1 year and $3.50 in Exactly 2 years. After that, each subsequent annual dividend is expected to be 2.5% greater than the previous dividend, and each dividend will be paid exactly a year after the previous dividend. The appropriate discount rate for the stock is 12% per year compounded annually. What is the value of the stock? Round all intermediate calculations to 6 decimal points. Your final answer should be within $0.05 of the correct answer choice. 1) $38.18 2) $32.89 3) $34.23 4) $36.84