Canine Crates Just Paid an Annual Dividend of

Canine Crates just paid an annual dividend of $..45 per share but plans to double that amount each year for three years.After that, the firm expects to maintain a constant dividend.What is the value of this stock today if the required return is 13 percent?

A) $24.48
B) $26.45
C) $23.46
D) $19.91
E) $23.89