what would be the expected price of a stock when dividends are expected to grow at a 25 percent rate for three years, then grow at a constant rate of 5 percent, if the stocks required return is 13 percent and next year's dividend will be $4.00?

A. $61.60

B.$62.08

C.$68.62

D.$79.44

E. None of the above

(the teachers notes says the answer is C, but am looking for an explanation and what formulas were used)

Thanks!