An Investor Expects Chewy Lewy Ltd to Pay a Dividend $\$ 11.05$

An investor expects Chewy Lewy Ltd to pay a dividend of $0.95 next year,after which the investor expects to sell the share for $12.80.The cost of equity capital is estimated to be 12% p.a.What is the present value of one share in Chewy Lewy Ltd?

A) $\$ 11.05$
B) $\$ 12.28$
C) $\$ 12.59$
D) $\$ 13.10$