12. Bloomberg Co. announced today that its next annual dividend will be $2.60 per share. After that dividend is paid, the company expects to encounter some financial difficulties and is going to suspend dividends for 5 years. Following the suspension period, the company expects to pay a constant annual dividend of $1.30 per share. What is the current value of this stock if the required return is 10 percent? A. $2.36 B. 3.55 C. $7.34 D. $8.07 E. $9.7