FVPV

My own way - The Correct Answer: C

D1/ (1+k) + D2/(1+k)^2 + P2/k - g (remember constant g rate)

$1(1.25) / 1.10 + [$1(1.25^2 + $44.41/ (0.10-0.06)] / 1.10^2 = $36.65

So terminal price = P2 = D3/k-g and you know D3 = D2(1+g) . Here you must use perpetual g rate