A company has just paid its first dividend of $1.10. Next year's dividend is forecast to grow by 6 percent, followed by another 6 per cent growth in year two. From year three onwards dividends are expected to grow by 3.8 percent per annum, indefinitely. Investors require a rate of return of 16 percent p.a. for investments of this type. The current price of the share is (round to nearest cent) Select one: a. $4.43 b. $9.74 c. $8.82 d. $4.92