Armadillo Co. has fallen on hard times. While the most recent dividend paid by the company was $0.59, the expected growth rate for future dividends is -6%. The firms stock currently has a b of 2.0. If the expected return is 10% for the market and 5% for a 3-month T-bill, what is the price of Armadillos common stock, assuming the negative growth rate will continue forever?

A) $3.29 B) $2.30 C) $2.64 D) $2.20