Bettis Corp.'s stock price is $20 per share, and its expected year-end dividend is $2 a share (D1 = $2.00). The stock's required return is 15%, and the dividend is expected to grow at a constant rate forever. What is the expected price of the stock 7 years from now?
a. $27.18
b. $28.14
c. $29.95
d. $30.45
e. $31.81