Kleine Toymakers is introducing a new line of robotic toys, which it expects to grow their earnings at a much faster rate than normal over the next three years. After paying a dividend of \$2.00 last year, it does not expect to pay a dividend for the next three years. After that Kleine plans to pay a dividend of $6.00 in year 4 and then increase the dividend at a rate of 12 percent in years 5 and 6 . What is the present value of the dividends to be paid out over the next six years if the required rate of return is 15 percent? 22.25 10.03 9.85 7.26