"FB Light" stock has paid a dividend for many years with a consistent growth in dividends. Over the last several years it has increased dividends 5% every two years. Currently, it pays a dividend of $2.50 per share annually. If the CAPM indicates that investors seek 12% return per year on FB Light stock, what is the current price of FB Light stock price per share?

Group of answer choices

a. $21.35

b. $26.97

c. $45.00

d. $37.50