A stock is expected to pay a $2.50 dividend at the end of the year (D₁ = $2.50). The dividend is expected to grow at a constant rate of 6% a year. The stock's beta is 1.2, the risk-free rate is 4%, and the market risk premium is 5%. What is the expected stock price eight years from today?

$105.59

$104.86

$133.97

$ 65.79

$ 99.62