PPM Company just paid a dividend of $2.50 per share on its stock. The dividends are expected to grow at a constant rate of five percent per year, indefinitely. Assume investors require a 12 percent return on this stock. What will the stock price be in 12 years? Select one: a. $55.47 b. $67.34 c. $46.54 d. $64.14 e. $91.96