Metallica Bearings inc is a young start up company. No dividends will be paid on the stock over the next 12 years because the firm needs to plow back its earnings to fuel growth. The company will pay a dividend of 12 dollars per share 13 years from today and will increase the dividend by 8 percent per year thereafter. If the required return on this stock is 12 percent, what is the current share price?

A) 80.85

B) 73.15

C) 68.75

D) 79.31

E) 77.00