Orwell building supplies' last dividend was $1.75. Its dividend growth rate is expected to be constant at 34.00% for 2 years, after which dividends are expected to grow at a rate of 6% forever. Its required return (r_s) is 12%. What is the best estimate of the current stock price?

Select the correct answer.

a. $44.92

b. $46.23

c. $48.85

d. $47.54

e. $43.61