$17.$ What comes closest to the value today of a stock that just paid a dividend of $$1\mathrm{.}25$

and expects to grow that dividend by $8\mathrm{.}00\%$ per year in year $1$ and year $2,$ and then grow but will then see the growth in dividends fall to $2\mathrm{.}00\%$ in the third year and will continue to grow at that lower rate each year thereafter forever. Using a required rate of return of $3\mathrm{.}25\%,$ provide an estimate of the price of the stock.

$$114\mathrm{.}28$

$$100\mathrm{.}00$

$$26\mathrm{.}32$

$$102\mathrm{.}00$

$$110\mathrm{.}76$