New Corp. last paid a $1.50 per share annual dividend. The company is planning on paying $1.62, $1.68, $1.75, and $1.80 a share over the next four years, respectively. After that the dividend will be a constant $2.00 per share per year. What is the market price of this stock if the market rate of return is 15 percent?

$9.09

$11.57

$6.00

$12.48

$8.49