xyz corp is currently priced at $70 per share in the market and has just paid a dividend of $5.00. Analysts expect the dividend to grow at a rate of 20% per year for the next 3 years and then grow at a rate of 6% per year for the foreseeable future. What constant discount rate is required so that the dividend discount model returns to current market price?

A) 13.80% B) 12.93% C) 14.72% D) 15.15% E) 16.66%