Company Z plans to pay a 5 dividend per share over the next 4 years (from the end of year 1 to the end of year 4). However, the company will pay a 3 dividend per share at the end of year 5 and will increase the dividend by 1% per year thereafter. Which one of the following price ranges includes the current share price if the required return on this equity is 5%?

A. Between 81 and 83

B. Between 72 and 74

C. Between 75 and 77

D. Between 78 and 80