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Can I get an explanation to why the answer is C. I saw a previous response stating the answer was B however it is not.

Can I get an explanation to why the answer is C. I saw a previous response stating the answer was B however it is not.
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11) A firm is planning on paying its first dividend of $2 three years from today. After that, dividends are expected to grow at 6% per year indefinitely. The stock's required return is 14%. What is the intrinsic value of a share today? A) $25.00 B) $19.68 C) $16.87 D) $20.99

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