A fast growth share has the first dividend (t=1) of $1.35. Dividends are then expected to grow at a rate of 7 percent p.a. for a further 4 years. It then will settle to a constant-growth rate of 1.9 percent. . If the required rate of return is 18 percent, what is the current price of the share? (to the nearest cent) a. $9.64 b. $31.71 c. $8.39 d. $6.33