Biogenetics, Inc

Biogenetics, Inc. plans to retain and reinvest all of its earnings for the next 30 years. Beginning in year 31, the firm will begin to pay a $12 per share dividend. The dividend will not subsequently change. Given a required return of 15%, what should the stock sell for today?

A) $1.21
B) $2.15
C) $8.15
D) $42.00
E) $80.00