National Advertising just paid a dividend of D₀ = $0.75 per share, and that dividend is expected to grow at a constant rate of 6.50% per year in the future. The company's beta is 1.8, the required return on the market is 10.50%, and the risk-free rate is 4.50%. What is the company's current stock price?

Select the correct answer.

a. $9.08

b. $9.40

c. $8.44

d. $9.72