Magnolia Company's most recent dividend paid was $0.50, the expected growth rate for future dividends is 2%. The firms stock currently has a beta of 1.50 If the expected return is 8% for the market and 3% for a 3-month T-bill, what is the price of Magnolias common stock, assuming the growth rate will continue forever?

a.	$6.00
b.	$3.92
c.	$6.67
d.	$3.85
e.	$5.10