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At the end of year 3 the firm will pay a special dividend of $5 per share. Beginning in year 4, the firm will begin

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At the end of year 3 the firm will pay a special dividend of $5 per share. Beginning in year 4, the firm will begin to pay a dividend of $1 per share, which is expected to grow at a 3% rate annually forever. Given a required return of 12%, the stock should sell for today. Select one: O a. $15.01 O b. $12.44 O c. $11.47 O d. $14.27 e. $13.15

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