Which one of the following sets of dividend payments best meets the definition of three-stage growth as it applies to the three-stage dividend growth model?

		no dividends for 5 years, then increasing dividends forever
		1 percent increase in dividends annually for 2 years, then 1.25 percent increase in annual dividends forever
		decreasing dividends for 6 years followed by one final liquidating dividend payment
		dividends payments which increase by 2 and 4 percent respectively for 3 years followed by a constant dividend thereafter
		dividend payments of $10 per share annually for 5 years followed by dividends which increase by 3 percent annually thereafter