Tapley Tank Company's last dividend was $2.25. The dividend growth rate is expected to be constant at 29% for 3 years, after which dividends are expected to grow at a rate of 7% forever. Tapley's required return (r_s) is 11%. What is Tapley's current stock price?

Select the correct answer.

$103.66

$103.81

$104.11

$103.51

$103.96