A firm paid a dividend of $2 per share yesterday and expects the growth rate of dividends to be 5% in the future. If the stock beta is 1.25, the risk-free rate 4% and the return on the market portfolio 15%, the current price of the common share is:

i) $16.47

ii) $15.68

iii) $11.83

iv) $11.27

v) $10.67