Tellite Ltd, a telecommunication company, did not pay a dividend in the last financial year. However, the company has indicated that it expects to earn $1 per share in this financial year and to pay out 20% of these earnings in dividends. Financial analysts expect that Tellite's earnings per share and dividend per share will grow at a rate of 10% a year. The rate of return required by investors has been estimated at 12% per annum. Estimate the current market value of the share.

A.$10

B.$50

C.$11

D.$5.50