Kelly Enterprises' stock currently sells for $35.25 per share. The dividend is projected to increase at a constant rate of 2.00% 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. $35.12

b. $35.54

c. $34.70

d. $35.96

e. $34.28