Questions 20 - 23 are based on the following information relating to Turkey Turbine Corporation. The company paid a dividend of $.93 per share quarterly, totaling to $3.72 for the most recent full year, on its common stock. Based on a study of the risk of owning this stock, analysts at Uruguay Investment Management Funds have determined that the required annual rate of return should be ke or r = 8.4%. The third analyst, Ms. Vietnam, is convinced that first analyst Uzbekistan's evaluation of Turkey Turbine's future earnings and dividends is too pessimistic. She feels that the company's earnings and dividends will grow in a fairly steady manner that she can sensibly model as constant growth of approximately 2.3% per year into the far distant future. Under this set of assumptions, what is the highest price that analyst Vietnam thinks the Uruguay funds should be willing to pay for a share of Turkey Turbine Corporation's common stock? O A. $60.98 B. $45.30 O C. $35.57 O D. $62.39 O E. $34.77