Hydro One is a regulated utility company that provides transmission and distribution of electricity in Ontario. Suppose Hydro One plans to pay $2.30 per share in dividends in the coming year. If the required rate of return on the stock is 7% and dividends are expected to grow by 2% per year in perpetuity, what is the value of Hydro Ones stock?

A. $35.55

B. $25.55

C. $24.55

D. $30.64

E. None of the above.