Good Investments Company forecasts a $2.44 dividend for 2017, $2.62 dividend for 2018 and a $2.77 dividend for 2019 for Mountain Vacations Corporation. For all years after 2019, Good Investments Company forecasts that Mountain Vacations will pay a $2.94 dividend.

Using the dividend discount valuation model determine the intrinsic value of Mountain Vacations Corporation, assuming the companys cost of equity capital is 7%.

Select one: a. $38.87 b. $34.26 c. $27.48 d. $41.11