You are considering the purchase of a common stock that paid a dividend of 2 yesterday. You expect this stock to have a growth rate of 15 percent for the next 3 years. The long-run normal growth rate after year 3 is expected to be 10 percent (that is, a constant growth rate after year 3 of 10% per year forever). If you require a 14 percent rate of return, how much approximately should you be willing to pay for this stock?

a. 54 b. 63 c. 84 d. 90