Answer:
Value of stock today = $37.3738
Explanation:
Provided details we have,
Dividend just given = $2.10
Dividend at end of Year 1 = $2.10 + 11% = $2.331
Dividend at end of Year 2 = $2.331 + 11% = $2.5874
Dividend at end of Year 3 = $2.5874 + 11% = $2.872
Dividend at end of Year 4 = $2.872 + 11% = $3.188
Dividend in 5th year = $3.188 + 3.5% = $3.299
Value of share at end of 4th year = 
=  = $43.987
 = $43.987
Therefore value of share today shall be:
Year       Present Value factor @11%      Return  Present Value
1                  0.9009                             $2.331         $2.099998
2                  0.8116                              $2.5874      $2.099934
3                  0.7311                               $2.872       $2.0997192
4                  0.6587                              $3.188        $2.0999356
4                  0.6587                          $43.987         $28.9742
Net Present Value i.e. Value of stock today = $37.3738