How much should an investor be willing to pay for a stock that has a dividend of $2.05 at the end of this year, $4.44 the year after, $1.85 in the finally year they plan on holding the stock. They expect to be able to sell it for $20.95 after receiving the 3rd dividend payment. The investor's required rate of return is 13.34%.

$14.39

$19.23

$6.54

$20.92

$19.12