Metallica Bearings, Incorporated, is a young start$-$up company. No dividends will be paid on the stock over the next $9$ years because the firm needs to plow back its earnings to fuel growth. The company will pay a dividend of $$7$ per share $10$ years from today and will increase the dividend by $8$ percent per year thereafter.

If the required return on this stock is $11$ percent, what is the current share price?

Multiple Choice

$$86\mathrm{.}65$

$$91\mathrm{.}22$

$$95\mathrm{.}78$

$$82\mathrm{.}18$

$$93\mathrm{.}95$