Connolly Co.'s expected year-end dividend is D₁ = $3.25, 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. $76.22

b. $77.15

c. $76.53

d. $76.84

e. $77.46