An investor gathers the following data on a company: Next year's sales revenue: $150 million Next year's net profit margin: 10% Dividend payout ratio: 40% Dividend growth rate expected during Years 2 and 3: 15% Dividend growth rate expected after Year 3: 5% Investors' required rate of return: 12% Number of outstanding shares: 7.5 million The current value per share of the company's common stock according to the two-stage dividend discount model is closest to: $13.49. B $14.08. $15.86.