Currently a firm is earning $6 per share. The pay-out ratio is 60% and it will remain same. If the ROE of the firm is 25% and required rate of return on equity is 13%. If the growth rate will settle to 4% after 4-years from now, compute the current price of share.

a. 60.91

b. 66.18

c. 50.82

d. 79.28