Jake Ltd., is a fast growth share and expects to grow at a rate of 25 percent for the next four years. It then will settle to a constant-growth rate of 10 percent. The first dividend will be paid out in year 3 and will be equal to $5.00. If the required rate of return is 17.49 percent, what should the current price of the share be?

a.$47.36

b.$42.44

c.$48.75

d.$54.53