Walmart company are expected to grow at a rate of 25% per year for the next six years but the company will pay no dividends and reinvest all earnings….

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Walmart company are expected to grow at a rate of 25% per year for the next six years but the company will pay no dividends and reinvest all earnings. After that, the dividends will grow at a constant annual rate of 7%. At the end of year 7, the company plans to pay its first dividend of $3.50 per share. If the required return is 16%, how much is the stock worth today?

A.$18.24

B.$22.80

C.$15.96

D.$20.52

E.$25.08

F.$13.68