Galloway, Inc., just paid a dividend of $3 per share and has announced that it will increase its dividend by $1 per share for each of the next 4 years, and then never pay another dividend. What is the current per share value at a required return of 12.7 percent?
(A) $20.08
(B) $21.15
(C) $16.02
(D) $18.60
(E) $17.33
