3. The Wildcats Inc. will pay an annual dividend of $1.00 next year. The dividend will increase by 12 percent a year for the following two years before growing at 4 percent indefinitely thereafter. If the required rate of return is 10 percent, what is the stocks current value?

A) $20.370

B) $22.997

C) $18.485

D) $19.113

E) $21.743