The Ramirez Company's last dividend was $1.75. Its dividend growth rate is expected to be constant at 22% for 2 years, after which dividends are expected to grow at a rate of 6% forever. Its required return (r_s) is 10%. What is the best estimate of the current stock price? Do not round intermediate calculations.

Select one:

a. $33.35

b. $44.73

c. $61.14

d. $39.04

e. $44.33

using excel please