19. McDonald Corporation is expecting its ice cream sales to decline due to the decrease in temperature. Thus, the company has announced that it will be reducing its annual dividend by 5% a year for the next two years. After that, it will maintain a constant dividend of $1 a share. Last year, the company paid $1.40 per share. What is this stock worth to you if you require a 9% rate of return? A. $10.86 B. $11.11 C. $11.64 D. $12.98 E. $14.23