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Schnusenberg Corporation just paid a dividend of D₀ = $0.75 per share, and that dividend is expected to grow at a constant rate of 6.50% per year in the future. The company's beta is 0.75, the required return on the market is 10.50%, and the risk-free rate is 4.50%. What is the company's current stock price? Do not round intermediate calculations.

a. $19.97

b. $12.29

c. $31.95

d. $30.00

e. $8.88