According to the Dividend Discount Model,the Current Value of a Security

According to the dividend discount model,the current value of a security is equal to:

A) The annual divided payable at the end of the year/The company's required rate of return on its equity - Projected growth rate in dividends)
B) The annual divided payable at the end of the year/The company's required rate of return on its equity + Projected growth rate in dividends)
C) The annual divided payable at the end of the year x The company's required rate of return on its equity - Projected growth rate in dividends)
D) The annual divided payable at the end of the year x The company's required rate of return on its equity + Projected growth rate in dividends)
E) None of the above.