Erna Company is expected to pay a dividend of $2.59 one year from today and $2.74 two years from today. The company's sales in two years are expected to be $15,900,000. The company has a PS ratio of 1.77 times, and 526,000 shares outstanding. If the required return on the company's stock is 11.3 percent, what is the current stock price?

Multiple Choice

$6.24

$43.19

$49.64

$4.54

$47.73