Rein Corporation recently paid a $2 annual dividend. The company is projecting that its dividends will grow by 20 percent next year, and then at 5 percent annually thereafter. Based on this information, how much should Rein Corporation common stock sell for today if her required return is 12%?

A. $36.46

B. $39.30

C. $37.85

D. $32.90

E. $34.29