please explain with every step

4, An analyst gathered the following information about a company: Current dividend (Do) per share on common stock Expected annual growth rate for years 1 and 2 Expected annual growth rate for year 3 and thereafter Ex 3.00 20% 9% 6% 11% pected risk-free rate of return Expected return on the market portfolio Beta for common stock The value of a share of the company's common stock is closest to: A. 110 B. 120 C. 132