The last dividend paid by Coppard Inc. was $1.25. The dividend growth rate is expected to be constant at 40% 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. $71.93

b. $70.25

c. $71.09

d. $69.41

e. $68.57