The Bell Weather Co. is a new firm in a rapidly growing industry. The company is planning on increasing its annual dividend by20 percent next year and then decreasing the

growth rate to a constant 5 percent per year. The company just paid its annual dividend in the ambunt of $1 per share. What is the current value of a share if the required rate of return is 14 percent? a. $13,24 b. $13.19 c. $13.33 5 d. $13.28 O e. $13.42