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 increase at a 6% rate
Annually thereafter. Given a required return of 15%, what the stock should sell for today?

A) $1.21
B) $1.64
C) $2.01
D) $4.39
E) $13.45