Company A will be reducing its annual dividend by $4\mathrm{.}0\%$ a year for the next $2$ years. After that, it will pay a dividend of $$\mathrm{.}95$ a share, growing each year thereafter by $3\mathrm{.}0\%.$ This dividend stream with $3\mathrm{.}0\%$ growth per year is expected to last for $50$ years $($until the end of year $52),$ at which point each share can be exchanged for $$26\mathrm{.}00.$ The company recently paid a dividend of $$1\mathrm{.}33$ per share. What is this stock worth given a $8\mathrm{.}0\%$ required rate of return?

The stock is worth $$17\mathrm{.}48.$

The stock is worth $$18\mathrm{.}02.$

The stock is worth $$16\mathrm{.}63.$

The stock is worth $$23\mathrm{.}75.$