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MarketMover Inc. is expected to pay a dividend in year 1 of $2, a dividend in year 2 of $2.5, a dividend in year 3

MarketMover Inc. is expected to pay a dividend in year 1 of $2, a dividend in year 2 of $2.5, a dividend in year 3 of $3.3, and a dividend in year 4 of $4.1. After year 4, dividends are expected to grow at the rate of 8.1% per year. An appropriate required return for the stock is 19.2%. Using the multistage DDM, how much should the stock be worth today?

a. $27.19

b. $21.81

c. $39.93

d. $30.43

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