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Erna Company is expected to pay a dividend of $2.73 one year from today and $2.88 two years from today. The company's sales in two

Erna Company is expected to pay a dividend of $2.73 one year from today and $2.88 two years from today. The company's sales in two years are expected to be $16,250,000. The company has a PS ratio of 1.91 times, and 529,500 shares outstanding. If the required return on the company's stock is 12 percent, what is the current stock price?

A. $46.73

B. $51.46

C. $6.82

D. $53.52

E. $4.73

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