The last dividend paid was $1.55. 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 5.0% forever. The firms required return (rs) is 9.75%. What is the best estimate of the current stock price?

a. 84.58

b. 54.34

c. 40.23

d. 26.74

e. 32.06