The last dividend paid by Wilden Corporation was $2.00. The dividend growth rate is expected to be constant at 1.5% for 2 years, after which dividends are expected to grow at a rate of 8.0% forever. The firm's required return (rs) is 12.0%. What is the best estimate of the current stock price?

Select the correct answer.

a. $46.98

b. $48.62

c. $49.44

d. $46.16

e. $47.80