Erna Company is expected to pay a dividend of $2.57 one year from today and $2.72 two years from today. The company's sales in two years are expected to be $15,850,000. The company has a PS ratio of 1.75 times, and 525,500 shares outstanding. If the required return on the company's stock is 11.2 percent, what is the current stock price?

options:

• $4.51

• $42.69

• $49.08

• $6.16

• $47.20