intrinsic value per share question

A stock currently does not pay any dividends. The stock is expected to begin paying a dividend of $1.20 per share in three years. After they begin, the dividends are expected to grow forever at a constant rate of 5.2% per year. If investors require a return of 12.4% per year to hold the stock, what is its intrinsic value per share? A) $15.17 B) $14.83 C) $12.35 D) $13.19 E) $11.74