Last month Charles River Manufacturing paid their annual dividend of $0.75 per share. The company then announced that future dividends will be increased by 2.75 percent annually. How much are you willing to pay for this stock today if you require a 15 percent rate of return?

a. 4.86

b. 5.19

c. 5.73

d. 6.29

e. 6.82

Which one of these is correct?