The last dividend paid by Coppard Inc. was $1.25. The dividend growth rate is expected to be constant at 7.5% for 3 years, after which dividends are expected to grow at a rate of 6% forever. If the firm's required return (rs) is 11%, what is its current stock price?

Select the correct answer.

a. $31.76b. $32.66c. $33.11d. $32.21e. $31.31