A common stock currently has a beta of 1.7, the risk-free rate is 4 percent annually, and the market return is 12 percent annually. The stock is expected to generate a constant dividend of $5.70 per share. A pending lawsuit has just been dismissed and the beta of the stock drops to 1.3. The new equilibrium price of the stock will be

Group of answer choices

A.$40.71

B.$54.81

C. $57.86

D. $55.83