The Merriweather Company just announced that it will pay a dividend next year of $1.50. The company will then increase its dividend by 15 percent per year for three years after which it will maintain a constant 5 percent dividend growth rate. What is one share worth today at a required rate of return of 11 percent?

A) $32.00

B)$28.57

C)$29.40

D)$45.63

E)$34.90