The last dividend paid by Coppard Inc. was $1.25. The dividend growth rate is expected to be constant at 2.5% 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. $30.81

b. $27.93

c. $31.77

d. $29.85

e. $28.89