Suppose you are given the following historical data for Allied Aerospace Ltd.:

Year	EPS	Dividend per share
2017	$2	$1
2018	$4	$2
2019	$2	$1
2020	$4	$2

Allied received a new long-term government contract that guarantees EPS of $2.50 a year for the next 99 years. The cost of capital for Allied is 8%. Assuming the historical dividend payout ratio, using the constant dividend growth model, the stock price of Allied Aerospace is _____.

a) $31.25

b) $12.88

c) $15.63

d) $18.75