Crystal Glass Recently Paid $3

Crystal Glass recently paid $3.60 as an annual dividend.Future dividends are projected at $3.80,$4.10,and $4.25 over the next 3 years,respectively.Beginning 4 years from now,the dividend is expected to increase by 3.25 percent annually.What is one share of this stock worth to you if you require a 12.5 percent rate of return on similar investments?

A) $42.92
B) $43.40
C) $45.12
D) $45.88
E) $46.50