A fast-growing firm recently paid a dividend of $0.50 per share. The dividend is expected to increase at a 50 percent rate for the next 2 years. Afterwards, a more stable 6 percent growth rate can be assumed. If a 16 percent discount rate is appropriate for this stock, what is its value? a. $5.00 b. $10.34 c. $22.62 d. $25.75 e. $36.46