Peterson's is a new firm in a rapidly growing industry. The company is planning on increasing its annual dividend by 13% a year for the next five years and then decreasing the growth rate to 4.8% per year. The company just paid its annual dividend in the amount of $1.20 per share. What is the current value of one share if the required rate of return is 14.4%?

$18.10

$17.36

$19.53

$18.82

$19.94