Sew 'N More just paid an annual dividend of $1.42 per share. The firm plans to grow annual dividends at a rate of 15% per year for four years. After that time, dividends will grow at a constant rate of 3% per year. What is this stock worth today at a discount rate of 11.7 percent?

a. $23.67

b. $13.30

c. $13.41

d. $25.01