A fast growth share has the first dividend (t=1) of $2.86. Dividends are then expected to grow at a rate of 10 percent p.a. for a further 3 years. It then will settle to a constant-growth rate of 1.9 percent. . If the required rate of return is 19 percent, what is the current price of the share? (to the nearest cent)

Select one:

a. $18.86

b. $16.73

c. $19.89

d. $54.97