Hi, please teach me how to solve this problem step by step with the formula. Please be as understandable as possible, since I'm new to this. Thank you!

Stoneworks, Inc. has an odd dividend policy. The company has just paid a dividend of $15 per share and has announced that it will increase the dividend by $ 3 per share for each of the next five years, and then never pay another dividend. If you require a return of 11 percent on the company's stock, how much will you pay for a share today? $101.40 $120 swer $86.40 $71.27 $94.14