T Company's last dividend was $1.50. Its dividend growth rate is expected to be constant at 3% for 2 years, after which dividends are expected to grow at a rate of 4% forever. Its required return (r s) is 7%. What is the best estimate of the current stock price? Do not round intermediate calculations.

a. $76.52 b. $40.99 c. $153.03 d. $38.27 e. $51.02