1. Exercise Bicycle Company is expected to pay a dividend in year 1 of $1.20, a dividend in year 2 of $1.50, and a dividend in year 3 of $2.00. After year 3, dividends are expected to grow at the rate of 10% per year. An appropriate required return for the stock is 14%. The value of the stock today is closest to

A. $33.00 B. $39.86 C. $55.00 D. $66.00 E. $40.68