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Analysts expect Placer Corp. to pay shareholders $ 5 . 0 0 per share for Year 1 . For the following 3 years, it will

Analysts expect Placer Corp. to pay shareholders $5.00 per share for Year 1. For the "following" 3 years, it will be $7.5/sh annually. Afterward (ie. after four years), the dividend will stay at $8.8/sh.
Given a discount rate of 15%, what is the value of the stock today?
Group of answer choices
$52.78
$48.41
$82.28
$49.98

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