On January 1, 2016, Intel Corps stock traded for $40. It paid $0.40/quarter in 2016. Assume Intel will pay $0.45/quarter in 2017. Further assume that the prevailing interest rate is 0.6% per quarter. If you buy Intel stock on January 1, 2016, at what price would you have to be able to sell Intel stock at the end of 2017 in order to break even?

Select one:

a. 45.25

b. 36.69

c. 38.49

d. 41.23