Quality Home Made Ice Cream Has Plans to Pay Decreasing

Quality Home Made Ice Cream has plans to pay decreasing annual dividends of $2, $1.50, and $1.00 over the next three years, respectively. After that, the firm will increase the dividend by 4 percent each year. What is the value of this stock today at a discount rate of 9 percent?

A) $19.20
B) $19.54
C) $19.69
D) $19.93
E) $20.48