XYZ Company's preferred shares will pay a constant dividend of $$2\mathrm{.}00$ per year forever, starting in $1$ year. Given the risk of the shares you think the appropriate discount rate should be $20\%$ per year for the first $3$ years. You then think the discount rate should drop to $12\%$ per year in year $4$ and will last forever. How much would you be willing to pay for these preferred shares?

A$)$ $$12\mathrm{.}25$

B$)$ $$9\mathrm{.}65$

C$)$ $$13\mathrm{.}86$

D$)$ $$16\mathrm{.}67$

E$)$ $$10\mathrm{.}71$

Please include steps and explain them.