Kelly Enterprises' stock currently sells for $35.25 per share. The dividend is projected to increase at a constant rate of 4.50% per year. The required rate of return on the stock, r_s, is 11.50%. What is the stock's expected price 5 years from now?

Select the correct answer.

a. $42.04

b. $40.54

c. $41.04

d. $41.54

e. $40.04