Orwell building supplies' last dividend was $1.75. Its dividend growth rate is expected to be constant at 39.00% 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. $52.48

b. $49.84

c. $53.80

d. $48.52

e. $51.16