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Ackert Company's last dividend was $4.50. The dividend growth rate is expected to be constant at 1.5% for 2 years, after which dividends are expected

Ackert Company's last dividend was $4.50. The dividend growth rate is expected to be constant at 1.5% for 2 years, after which dividends are expected to grow at a rate of 7.0% forever. The firm's required return (rs) is 13.0%. What is the best estimate of the current stock price? Do not round intermediate calculations.

a. $81.31
b. $75.86
c. $72.42
d. $76.92
e. $64.97

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