The Impulse Shopper Recently Paid an Annual Dividend of $1

The Impulse Shopper recently paid an annual dividend of $1.13 per share.The company just announced that it is suspending all dividend payments on its common stock for the next five years.After that, the company expects to pay $.50 a share at the end of each year.At a required return of 18 percent, what is this stock worth today?

A) $0
B) $1.13
C) $2.78
D) $1.03
E) $1.21