Question: Todd's Turtles is expected to increase dividends by 20% in one year, and by 15% in 2 years. After that dividends will increase at a

Todd's Turtles is expected to increase dividends by 20% in one year, and by 15% in 2 years. After that dividends will increase at a rate of 5% per year indefinitely. The last dividend was $1, the requred return is 15%, what is the current price of stock? (HINT: current price will be from NPV calculation)

A. 6.90

B. 8.67

C.9.66

D.10.10

E.13.04

Please provide a short explanation for best answer

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