A stock is expected to pay its first $0.8 dividend in 3 years from now (t=3). The dividend is expected to be paid annually forever and grow by 2% pa. The discount rate is 8% pa. Estimate what the stock price will be in 2.25 years from now. The stock price at time 2.25 is expected to be:

Select one:

a. $13.9408

b. $13.6675

c. $13.5924

d. $13.1368

e. $12.5855