Burke Tires just paid a dividend of D₀ = $4.75. Analysts expect the company's dividend to grow by 30% this year, by 10% in Year 2, and at a constant rate of 5% in Year 3 and thereafter. The required return on this low-risk stock is 9.00%. What is the best estimate of the stock's current market value?

Select the correct answer.

a. $163.33

b. $162.39

c. $161.92

d. $161.45

e. $162.86