Hi, I was wondering if someone can help me with the following question? Thanks very much

A company plans to decrease its annual dividend by 4% a year over the next four years.

The company then will pay a constant dividend of $1 per share. Company's last years dividend per share is $1.8.

If the required rate of return is 12%, what is the price that one is willing to pay for the company's stock?

Here are the MC Options:

$12.07

$10.27

$13.10

$9.29

$11.30