Caribou Transport Inc (CTI) had a share price at the start of the year of $41.80, paid a dividend of $0.39 at the end of the year, and has an equity cost of capital of 23.0%. What share price would you expect CTI to have at the end of the year, just after it pays its dividend?

A) $51.41

B) $34.30

C) $51.02

D) $51.80

Please show all work.