The Fish House Increases Its Dividend Each Year

The Fish House increases its dividend each year. The next annual dividend is expected to be $2.21 a share. Future dividends will increase by 3.5 percent annually. What is the current value of this stock if the discount rate is 12 percent?

A) $24.91
B) $25.05
C) $25.78
D) $26.00
E) $26.18