Georgia Nursery Is a Relatively Young Firm Which Just Paid

Georgia Nursery is a relatively young firm which just paid its first annual dividend of $0.50 a share.Management projects dividend increases of 15 percent per year for five years followed by a constant growth rate of 5.0 percent annually.What is this stock worth today if the applicable discount rate is 10 percent?

A) $13.59
B) $14.66
C) $15.98
D) $16.16
E) $16.51