Home Renu Inc.'s most recent dividend was $0.25. The company plans to double its dividend every year for the next four years, then increase it at a constant rate of 5% per year. To estimate the intrinsic value of this stock using the dividend-growth model, the required rate of return must be

A.

less than 5%.

B.

greater than 52.5%.

C.

greater than 5%.

D.

equal to or greater than 100%.