A stock is expected to pay its first $51 dividend in 4 years from now. The dividend is expected to be paid annually forever and grow by 2% pa. The discount rate is 6% pa. Estimate the current stock price. The current stock price should be:

Select one: a. $952.7542 b. $1,009.9194 c. $1,070.5146 d. $1,121.5146 e. $1,275