GIA Ltd just paid a dividend of $1.80 per share. The companys dividend is expected to grow by 20% in the first year and 15% in the second year. From Year 3 onwards, the dividend is expected to grow at a constant rate of 5% forever. The required rate of return is 12%. What is the current price of the company share?

Select one:

a.

$37.26

b.

$30.43

c.

$33.61

d.

$29.7