Because of decliningworld-wide sales of its number oneconfection, the petitourson, Bearsbum Confection announced today that it is suspending dividend payments on its preferred shares. The shares have a 5.6 % annualdividend, have a par value of $ 95 and are cumulative. The next dividend would have been paid tomorrow(if it were notsuspended). Analysts expectBearsbum's profits to rebound strongly in the next year and half due to the introduction of a new line of sour gummy bear paws. As aresult, analysts expect that Bearsbum will resume dividends of $ 5.32 in two years time. What is the fair price for the shares today if investors require a return of 7.1 %?

I am looking for the fair price of the shares today. Thank you.

a) $118.86

b) $79.24

c) $103.01

d) $95.09