National Advertising just paid a dividend of D 0 = $1.25 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 1.5, 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?

a.

$16.64

b.

$17.26

c.

$18.89

d.

$19.02