The last dividend paid by Coppard Inc. was $1.25. The dividend growth rate is expected to be constant at 10% for 3 years, after which dividends are expected to grow at a rate of 6% forever. If the firm's required return (r_s) is 11%, what is its current stock price?

Select the correct answer.

a. $31.05

b. $27.89

c. $30.26

d. $29.47

e. $28.68