After much research, they conclude that the firm will be able to pay a $5 dividend in the first year. The growth rate will be 40% in the second year, 30% in the 3^rd year, 20% in the 4^th year and 10% in the 5^th year. They will not pay a dividend after the last year of growth. Since this is a risky start-up project, the required rate of return is 20%. What should an interested investor pay today for each share of stock?

A) $24.39 B) $20.02 C) $19.64 D) $44.03