Bailey Industries expects to pay a $5.00 per share dividend on its common stock at the end of the year (D1 = $5.00). The dividend is expected to grow 20 percent a year until t = 4, after which time the dividend is expected to grow at a constant rate of 6 percent a year. The stocks beta is 1.5, the risk-free rate of interest is 6 percent, and the rate of return on the market is 17 percent. What is the companys current stock price?

	a.	$100.00
	b.	$96.41
	c.	$40.48
	d.	$52.81
	e.	$62.2