Hideki Corporation has just paid a dividend of ¥450 per share. Annual dividends are expected to grow at the rate of 4 percent per year over the next four years. At the end of four years, shares of Hideki Corporation are expected to sell for ¥9,000. If the required rate of return is 12 percent, the intrinsic value of a share of Hideki Corporation is closest to:

A. ¥5,850.

B. ¥7,220.

C. ¥7,670.