Latcher's Inc

Latcher's Inc. is a relatively new firm that is still in a period of rapid development. The company plans on retaining all of its earnings for the next six years. Seven years from now, the company
Projects paying an annual dividend of $.25 a share and then increasing that amount by 3% annually
Thereafter. To value this stock as of today, you would most likely determine the value of the stock
_____ years from today before determining today's value.

A) 4
B) 5
C) 6
D) 7
E) 8