Whited Inc.'s stock currently sells for $26.25 per share. The dividend is projected to increase at a constant rate of 4.00% per year. The required rate of return on the stock, r_s, is 11.50%. What is the stock's expected price 5 years from now?

a. $27.30

b. $45.24

c. $29.27

d. $37.69

e. $31.94