What value would be placed on a stock that currently pays no dividend but is expected to start paying a $$1$ dividend five years from now? Once the stock starts paying dividends, the dividend is expected to grow at a $5$ percent annual rate. The appropriate discount rate is $12$ percent.

A$)$ $$14\mathrm{.}29.$

$($B$)$ $$8\mathrm{.}11.$

C$)$ $$9\mathrm{.}08.$