The company is expected to pay a dividend of $$5$ a year. The growth rate is $4\%$ and investors require a $12\%$ return to compensate them from the risk of owning the stock. What price should the stock trade at$?$

Select one:

a$.$

$$69$

b$.$

$$64\mathrm{.}8$

c$.$

$$61\mathrm{.}6$

d$.$

$$62\mathrm{.}5$