Daves Inc's stock is currently sells for $45 per share. The stock's dividend is projected to increase at a constant rate of 4% per year. The required rate of return on the stock, rs, is 12%. What is Daves' expected price 6 years from now?
a. $52.68
b. $53.71
c. $54.41
d. $55.12
e. $56.94