The Ramirez Company's Last Dividend Was $1

The Ramirez Company's last dividend was $1.75.Its dividend growth rate is expected to be constant at 24% for 2 years,after which dividends are expected to grow at a rate of 6% forever.Its required return (r_s) is 12%.What is the best estimate of the current stock price? Do not round intermediate calculations.

A) $36.94
B) $52.47
C) $41.98
D) $31.90
E) $45.34