11. The earnings and dividends for MicroSun Computer Co. are expected to grow at an annual rate of 15% over the next 4 years and then slow to a constant growth rate of 8% per year for 3 years. MicroSun currently pays a dividend of $0.50 per share. What is the value of MicroSun stock to an investor who requires a 14% return?

A. $9.31

B. $15.73

C. $11.35

D. $12.56

Please show work and/or calculator inputs.