The Drew Company is expected to pay a dividend in year 1 of $2, a dividend in year 2 of $3, and a dividend in year 3 of $4. After year 3, dividends are expected to grow at the rate of 6% per year. An appropriate required return for the stock is 12%. Using the multistage DDM, the stock should be worth ________ today.

Select one:

A. $57.32

B. $85.60

C. $67.95

D. $65.13