Mountain View Nursery Is a Relatively Young Firm Which Just

Mountain View Nursery is a relatively young firm which just paid its first annual dividend of $0.35 a share.Management projects dividend increases of 12 percent per year for five years followed by a constant growth rate of 3 percent annually.What is this stock worth today if the applicable discount rate is 11 percent?

A) $3.59
B) $4.66
C) $5.23
D) $6.01
E) $6.51