Schnusenberg Corporation just paid a dividend of D₀ = $2.05 per share, and that dividend is expected to grow at a constant rate of 6.50% per year in the future. The company's beta is 1.20, the required return on the market is 12.50%, and the risk-free rate is 4.50%. What is the company's current stock price? Do not round intermediate calculations.

a. $33.59

b. $36.39

c. $26.97

d. $28.73

e. $15.48