Coolibah Holdings Is Expected to Pay Dividends of $1

Coolibah Holdings is expected to pay dividends of $1.20 every six months for the next three years.If the current price of Coolibah stock is $22.40,and Coolibah's equity cost of capital is 16%,what price would you expect Coolibah's stock to sell for at the end of three years?

A) $26.74
B) $28.82
C) $29.34
D) $31.36
E) $29.60