City Corp Is Experiencing Rapid Growth

City Corp. is experiencing rapid growth. Dividends are expected to grow at 20% per year during the next three years, 10% over the following year, and then 4% per year indefinitely. The required return on this stock is 10%. What is the projected stock price for the coming year, if it just paid a $2 dividend?

A) $21.44
B) $32.55
C) $43.66
D) $54.77
E) $65.88