Pulte Builders is expected to pay annual dividends of $1.40, $1.75, and $2.00 per share over the next three years, respectively. After that, the dividend is expected to remain constant (i.e. g equal to zero). What is the current value per share at a discount rate of 14 percent?
1)$13.57
2) $ 13.08
3)$12.22
4) $13.39