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Over the next 1 year, the dividend of another company DeVille PLC is expected to grow...

Over the next 1 year, the dividend of another company DeVille PLC is expected to grow at 9% per annum (i.e., per year). After that, the dividend growth of this company will decline to 4%. The required return is expected to stay constant at 5% per annum. The company's last paid dividend is 20p per share. What is the intrinsic value of the stock today, P0 ?

A.

2275p
B.

2180p
C.

1870p
D.

1814p
E.

None of the above
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