You have gathered the following information over the past five years for the Aztec Company: 2018 2019 2020 2001 2002 Year-end common stock price 56.31 45.72 57.45 58.22 60.32 Annual dividend per share (DPS) 0.23 0.26 0.31 0.37 0.39 Annual earnings per share (EPS) 2.00 2.00 2.25 2.40 2.45 P/E ratio 28.16 22.86 25.53 24.26 24.62 Aztec currently has a stock beta of 1.94, the expected return on the market is 10 percent, and the U.S. T-bill rate is 5 percent.

The expected price of the stock based upon the P/E price ratio is a. $26.39 b. $30.57 c. $61.46 d. $63.06 e. $64.66