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BioSci, Inc., a biotech firm, has forecast the following growth rates for the next three years:...

BioSci, Inc., a biotech firm, has forecast the following growth rates for the next three years: 30 percent, 25 percent, and 20 percent. The company then expects to grow at a constant rate of 4 percent for the future years. The company paid a dividend of $2.00 yesterday. If the required rate of return is 16 percent, what is the market value of this stock?

Group of answer choices

a. $25.82

b. $26.31

c. $31.05

d. $28.81

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