what is the value of the stock?

Sanding and Bending Inc. will pay no dividends for the next seven years. In the Year 8, it will pay a dividend of $6 and maintain a constant growth of 6 percent thereafter. If the required rate of return is 12 percent, what is the value of the stock?

a. 100
b. 97.18
c. 57.21
d. 45.23
e. 40.39