Huang Company's last dividend was $1.80. The dividend growth rate is expected to be constant at 22.5% for 3 years, after which dividends are expected to grow at a rate of 6% forever. If the firm's required return (r_s) is 12%, what is its current stock price? Do not round intermediate calculations.

a. $50.31

b. $49.89

c. $48.09

d. $53.86

e. $43.63