The Last Dividend Paid by a Company Was $2

The last dividend paid by a company was $2.20. Klein's growth rate is expected to be 10 percent for one year, after which dividends are expected to grow at a rate of 6 percent forever. The company's stockholders require a rate of return on equity (rs) of 11 percent. What is the current price of the stock?

A) $44.00
B) $46.64
C) $48.40
D) $48.64
E) $50.40