Company ABC Currently Pays Annual Dividends of $0 $\$ 7.80$

Company ABC currently pays annual dividends of $0.40,and growth of these dividends is expected to be at 5% p.a.Given a cost of equity capital of 10%,what is the estimated current share price of ABC?

A) $\$ 7.80$
B) $\$ 8.40$
C) $\$ 8.90$
D) $\$ 9.20$