The Australian Clean Energy Company Is Growing Fast

The Australian Clean Energy Company is growing fast.It has just paid a maiden dividend of $1.05.Next year's dividend is forecast to grow by 20 per cent,followed by another 20 per cent growth in year two.The dividend in year three will grow by 10 per cent,followed by another 5 per cent in year four.From year five onwards dividends are expected to grow by 2 per cent per annum,indefinitely.If investors require a rate of return of 15 per cent for investments of this type what is the maximum price you would pay for a share in this company?

A) $12.17
B) $11.27
C) $13.07
D) $10.83
E) $13.70