Gold&Socks gather the following data about Bearstock: Bearstock is expected to pay a dividend of $2 per share at the end of the year; Bearstock beta is 1.2; the risk-free rate is 6 percent. Gold&Socks estimate the market risk premium at 5 percent. Bearstock's dividend is expected to grow at some constant rate forever, g. The stock currently sells for $40 a share. Assuming the market is in equilibrium, what does Gold&Socks believe the Bearstock stock price will be at the end of three years?

	a.	$40.00
	b.	$42.35
	c.	$49.00
	d.	$45.67
	e.	$46.31