The last dividend paid by Klein Company was $1.00.

Klein's growth rate is expected to be a constant 20% for 3 years, after which dividends are expected to grow at a rate of 5% forever.

Klein's required rate of return on equity is 10%.

What should be the current price of Klein's common stock?

Select one:

a. $30.84

b. $50.16

c. $21.00

d. $42.25

e. $58.75