The Last Dividend on Spirex Corporation's Common Stock Was $4

The last dividend on Spirex Corporation's common stock was $4.00, and the expected growth rate is 10 percent. If you require a rate of return of 20 percent, what is the highest price you should be willing to pay for this stock?

A) $38.00
B) $40.00
C) $45.00
D) $44.00
E) $50.00