1. The Isberg Company just paid a dividend of $0.75 per share, and that dividend is expected to grow at a constant rate of 5.50% per year in the future. The company's beta is 1.65, the market risk premium is 5.00%, and the risk-free rate is 4.00%. What is the company's current stock price, P ₀? Do not round intermediate calculations.

   	a.	$13.83
   	b.	$10.08
   	c.	$12.66
   	d.	$13.60
   	e.	$11.72