A non-dividend-paying firm is currently priced at P₀ = $30 per share. Next year, the expected price per share is P₁, and shareholders expect the return (P₁ P₀)/P₀ for the year. Beta is 1.25, expected rate of return on the market portfolio is 12%, and the risk-free rate of return is 4%. The firm has Jensens alpha of (-2%). Based on this information, you expect next years price P₁ to be

	a.	$30
	b.	$34.20
	c.	Not enough information is given
	d.	$33.60