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, P₀? Do not round intermediate calculations.

a. $13.83

b. $11.72

c. $10.08

d. $12.66

e. $13.60