A company is expecting a period of intense growth and has decided to retain more of their earnings to help finance that growth. As a result, the company is going to reduce the annual dividend by 13.25% a year for the next three years. After those three years, the company will maintain a constant dividend of $0.75 a share. Recently, the company paid $1.55 as the annual dividend per share. What is the market value of this stock if the required rate of return is 10.25%? options: $7.76 $7.97 $8.18 $8.39 $8.60