A fast growth share has the first dividend (t=1) of $1.07. Dividends are then expected to grow at a rate of 6 percent p.a. for a further 3 years. It then will settle to a constant-growth rate of 2.8 percent. . If the required rate of return is 18 percent, what is the current price of the share? (to the nearest cent) a. $7.56 b. $20.55 c. $7.04 d. $5.43