Maryland Technology stock is expected to be priced at $56.40 in 1 year. It is expected to pay its next dividend, which is expected to be $2.90, in 1 year. The stock has a beta of 1.60. The market has an expected return of 12.90% and the risk-free rate is 1.50%. What is the current price of Maryland Technology stock?

$49.52 (plus or minus $0.10)

$49.96 (plus or minus $0.10)

$47.10 (plus or minus $0.10)

$52.52 (plus or minus $0.10)

None of the above is within $0.10 of the correct answer