BCSoft is in the phase of rapid growth. The dividend for the next two years are expected to grow @ 12% . In the third year, the dividend will grow @ 14 %. After that, dividend is expected to grow at the constant rate of 5 %. ABCSoft has just paid a dividend of $ 1.20 per share. The required rate of return is 10 %. Find out the price of the stock today using the supernormal growth valuation method.

31.23

30.23

29.23

32.23