Thirsty Cactus Corp. just paid a dividend of $1.40 per share. The dividends are expected to grow at 35 percent for the next 8 years and then level off to a 6 percent growth rate indefinitely.

Required :

If the required return is 13 percent, what is the price of the stock today?

$112.74

$87.98

$3.34

$115.04

$117.34