Rocket Co. has just paid a dividend of $1.15 per share. The firm pays annual dividends. It is expected by analysts that the firm's earnings will grow by 8.2% per year over next six years. After that, the earnings will most likely grow at the current industry average of 5.5% per year. Analysts do not expect any changes in the payout ratio of the firm. The cost of capital is 12%. The todays share price is closest to (nearest cents):

Select one:

a. $19.67

b. $21.30

c. $23.12

d. $20.51