The Cock and Bull Company is expected to pay its first dividend of $2.00 in 5 years after which dividends are expected to grow at a rate of 3% per year forever. All dividends are paid at the end of the year. If the required rate of return is 7% per year, then the stock price today is closest to:

a. $50.00

b. $44.42

c. $43.13

d. $35.65

e. $38.14

f. $44.92