Julia's Jewel Company (JJC) currently has a stock price of $35 per share. If JJC's cost of equity capital (same as discount rate for equity) is 11% and the current dividend yield (DIV1/P0) is 3.25%, the expected price per share of the company in one year (t = 1) is closest to?

a) 36.14

b)38.10

c) 38.85

d)37.71

step by step please