Computech Corporation is expanding rapidly and currently needs to retain all of earnings hence , does not pay dividends However , investors expect Computec begin paying dividends , beginning with dividend of 0.50 per year , in 3. The dividend should grow rapidly - a rate of 50% per year -during Years 4 and 5 but Year 5 , growth should be a constant 6% per year forever the required retum on Computech is 14 %, what the value of the stock today ?

a .$8.16

b.$ 9.11

c $ 12.56

d.$11.22