Dyer Furniture is expected to pay a dividend of D1 = $1.25 per share at the end of the year, and that dividend is expected to grow at a constant rate of 6.00% per year in the future. The company's beta is 0.60, the market risk premium is 5.50%, and the risk-free rate is 4.00%. What is Dyer's current stock price?

Select the correct answer. a. $95.53 b. $96.15 c. $95.84 d. $94.91 e. $95.22