You expect that Adidas AG will pay an annual dividend of $$1\mathrm{.}36$ one year from now. You expect this dividend to grow at $11\mathrm{.}5\%$ per year thereafter until the $5$th year.$$ Thereafter, growth will level off at $2\mathrm{.}3\%$ per year. According to the$$ dividend discount model, what is the value of a share of Adidas AG stock if the$$ firm's equity cost of capital is $11\mathrm{.}05\%?$

$$28\mathrm{.}45$

$$25\mathrm{.}30$

$$20\mathrm{.}72$

$$21\mathrm{.}10$