Thirsty Cactus Corp. just paid a dividend of $1.30 per share. The dividends are expected to grow at 30 percent for the next 9 years and then level off to a 7 percent growth rate indefinitely. Required : If the required return is 12 percent, what is the price of the stock today?

a)$3.15

b)135.56

c)132.90

d)130.24

e)106.39