Laurel Enterprises expects earnings next year of $5 per share and has a 30% retention rate, which it plans to keep constant. Its equity cost of capital is 10%, which is also its expected return on new investment. Its earnings are expected to grow forever at a rate of 2% per year. If its next dividend is due in one year, what do you estimate the firm's current stock price to be? b Select one: o a. $15.00 b. $18.75 o c. $35.00 d. $43.75 d. =