Sawchuck Consulting has been profitable for the last $5$ years, but it has never paid a dividend. Management has indicated that it plans to pay a $$0\mathrm{.}25$ dividend $3$

years from today, then to increase it at a relatively rapid rate for $2$ years, and then to increase it at a constant rate of $8\mathrm{.}00\%$ thereafter. Management's forecast

of the future dividend stream, along with the forecasted growth rates, is shown below. Assuming a required return of $11\mathrm{.}00\%,$ what is your estimate of the

stock's current value?

Use the rounded values of dividends $($as given in the table above$)$ for your subsequent calculations.

Select the correct answer.

a$.$ $$67\mathrm{.}92$

b$.$ $$-25\mathrm{.}47$

c$.$ $$-33\mathrm{.}96$

d$.$ $$-8\mathrm{.}49$

e$.$ $$16\mathrm{.}98$