The Easy Clean Company just paid a dividend of $1.50 (D0=$1.50). The dividend is expected to grow at a constant rate of 8%. The required rate of return is 11.50%. What is the expected price of Easy Clean stock in Year 5 (i.e., FIND P5)? [NOTE: Be careful! Round dividend to nearest penny before calculating price.]

$63.17

$74.47

$59.66

$68.00