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?

Year $01234567$

Growth rate NA NA NA NA $65\%32\mathrm{.}5\%8\mathrm{.}00\%8\mathrm{.}00\%$

Dividends $$0\mathrm{.}000$ $$0\mathrm{.}000$ $$0\mathrm{.}000$ $$0\mathrm{.}25$ $$0\mathrm{.}41$ $$0\mathrm{.}54$ $$0\mathrm{.}58$ $$0\mathrm{.}63$

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

Select the correct answer.

a$.$ $$62\mathrm{.}89$

b$.$ $$-13\mathrm{.}07$

c$.$ $$12\mathrm{.}25$

d$.$ $$56\mathrm{.}56$

e$.$ $$43\mathrm{.}90$