PALTEL Communications is a firm in a rapidly growing industry. the company is planning on increasing its annual

dividend by $14$ percent a year for the next $5$ years and then decreasing the grolth rate to $5\mathrm{.}3$ percent per year. the

company just paid its annual dividends in the amount of $$0\mathrm{.}50$ per share. What is the approximate current value of

one share of this stock if the required rate of return is $17$ percent"

a$.7$

b$.6\mathrm{.}3$

c$.$ cannot be calculated

d$.1\mathrm{.}84$

e$.3\mathrm{.}5$