A share of stock just recently released a dividend for $1.66 per share, and has expected growth rate of 2.10% in the next year, 2.20% in the second year, 4.30% in the third year and 1.00% in the fourth year. Finally the firm expects the growth to become 4.30% long-term thereafter. Given that the expected discount rate on these bonds is 20.80%, what is the expected price of this stock?

a. $9.63

b. $11.55

c. $9.06

d. $9.89