10.     You wish to value the stocks of Hormel Food, which is currently paying a dividend of $0.39. This dividend is expected to grow at a rate of 12.5% annually for the next five years, and afterwards the dividend growth rate will decline linearly from 12.5% to 6.75% over the next ten years. If your required rate of return is 8.90%, what will be value of stock per share today?         

a.       $19.97

b.       $29.49

c.       $19.14

d.       $21.51

e*.     $31.07