The Francis Company is expected to pay a dividend of D₁ = $1.25 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 1.15, the market risk premium is 5.50%, and the risk-free rate is 3.50%. What is the company's current stock price?

a. $28.90

b. $29.62

c. $30.36

d. $31.12

e. $32.68