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Nachman Industries just paid a dividend of D 0 = $ 3 . 7 5 . Analysts expect the company's dividend to grow by 3

Nachman Industries just paid a dividend of D0=$3.75. Analysts expect the company's dividend to grow by 30% this year, by 10% in Year 2, and at a constant rate of 4% in Year 3 and thereafter. The required return on this low-risk stock is 10.00%. What is the best estimate of the stock's current market value? Do not round intermediate calculations.
a. $82.73
b. $124.09
c. $85.68
d. $89.43
e. $78.70
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