Thirsty Cactus Corp. just paid a dividend of $1.55 per share. The dividends are expected to grow at 30 percent for the next 8 years and then level off to a 6 percent growth rate indefinitely. Required : If the required return is 12 percent, what is the price of the stock today?

a) $2.55

b) $90.22

c) $118.22

d) $113.59

e)$115.90