DMT Corp. is expected to pay its first dividend to its common shareholders three years from today of $2.80 per share. These dividends are then expected to grow at a constant rate of 6 percent per year indefinitely. The required rate of return on DMT common stock is 9%. What is the intrinsic value of the stock?

a. $73.78

b. $76.39

c. $78.56

d. $80.21

e. none of the above