You are thinking about buying a share of Glencoe Industries, which has a current market price of $30.00 per share. Glencoe expects to pay a dividend of $1.125 per share next year. Your required rate of return on these types of investments s 6% and is expected to remain at that rate indefinitely. If dividends are expected to grow at a constant rate for the foreseeable future, what is the expected market price per share in 4 years? (Note: use four decimal places for all calculations)
A. $57.9333
B. $33.5307
C. $32.7925
D. $31.6327