Consider the following information on Devon's Sock Company that just paid a dividend.

D₀ = 0.85 per share

Dividend expected growth rate = g = constant rate of 4.50% per year in the future

Devon's beta = 1.25

Expected return on the market =r_M= 11.00%,

Risk-free rate = r_RF = 5.00%.

What is Devon's current stock price, P₀?

Group of answer choices

$11.10

$12.59

$10.63

$13.16

$10.13