For the stock of Willis's Woozy Weddingplanners, Ltd., the next 3 annual dividends have been forecasted (consensus) as : $2.80, $2.31, and $2.14. If the terminal growth rate is 5.6%, and the cost of equity is 22.35%, what is the price TODAY?

Select one:

a.

$5.00

b.

insufficient information to determine

c.

$12.37

d.

$15.07

e.

$17.78

f.

$18.49

g.

$8.68