You expect that Bean Enterprises will have earnings per share of$2 for the coming year. Bean plans to retain all of its earnings for the next three years. For the subsequent twoyears, the firm plans on retaining50% of its earnings. It will then retain only25% of its earnings from that point forward. Retained earnings will be invested in projects with an expected return of20% per year. IfBean's equity cost of capital is 10%, then the price of a share ofBean's stock is closestto:

A.

$24.82

B.

$66.18

C.

$16.54

D.