The Francis Company is expected to pay a dividend of D₁ = $1.30 per share at the end of the year, and that dividend is expected to grow at a constant rate of 6.00% per year in the future. The company's beta is 0.70, the market risk premium is 5.50%, and the risk-free rate is 3.00%. What is the company's current stock price? Do not round intermediate calculations.

a. $162.12

b. $52.00

c. $152.94

d. $21.67

e. $18.98