A stock is expected to pay a dividend of $0.75 at the end of the year. The required rate of return is r_s = 10.5%, and the expected constant growth rate is g = 3.5%. What is the stock's current price?

Select the correct answer.

a. $13.61

b. $10.71

c. $15.06

d. $12.16

e. $16.51