Hi-Tek is a young start-up company. No dividends will be paid on the stock over the next 11 years, because the firm needs to plow back its earnings to fuel growth. The company plans to pay a $6 per share dividend in 12 years (that is, at t = 12) and will increase the dividend by5 percent per year thereafter. What is the current share price if the required return on this stock is 15 percent?

A.$9.62

B.$4.59

C.$60.00

D.$12.90