Sorenson Corp.'s expected year-end dividend is D₁ = $2.50, its required return is r_s = 15.00%, its dividend yield is 6.00%, and its growth rate is expected to be constant in the future. What is Sorenson's expected stock price in 7 years, i.e., what is P₇? Do not round intermediate calculations.

a. $110.83

b. $62.65

c. $76.17

d. $45.42

e. $69.88