Meridian Industries just paid a dividend of $1.50. You expect the dividend to grow at 15% for the next two years, and then the dividend will grow at 4.5% for the foreseeable future. You estimate the appropriate discount rate is 9.50%. Using this information you estimate the current price for Meridian is closest to:

A. $34.58.

B. $37.81.

C. $34.81.