Ram Corp's last dividend was $1.75 (D₀). Its dividend growth rate is expected to be at 25% for each of the first 2 years, after which dividends are expected to grow at a constant rate of 6% forever. Its required rate of return is 10%. What is its stock price?

A)

$65.57

B)

$63.02

C)

$67.26

D)

$64.13

E)

$66.88