A Corporation has just distributed $1.67 dividend. The company is growing very fast and expected to grow fast few more years. The expected growth rates for the following five years are 233, 40, 50, 30, 10 percent, respectively. After that the growth will slow down and will stay at 3.2 percent for the foreseeable future. The required rate of return is 12 percent. Based on these assumptions, what is the fair price of this stock? Calculate the price using dividend discount model.

		a. $151.46
		b. $189.77
		c. $149.74
		d. $29.133