Connolly Co.'s expected year-end dividend is D₁ = $0.25, its required return is r_s = 11.00%, its dividend yield is 6.00%, and its growth rate is expected to be constant in the future. What is Connolly's expected stock price in 7 years, i.e., what is ₇?

Select the correct answer.

a. $4.15

b. $3.58

c. $5.29

d. $4.72

e. $5.86