LCP, a newly formed medical group, is currently paying dividends of $.50. These dividends are expected to grow at a 20% rate for the next 5 years and at a 3% rate thereafter. What is the value of the stock if the appropriate discount rate is 12%?

A) $8.08

B) $11.17

C) $14.22

D) $17.32

E) $30.90