16 Rowdy Inc. has had a net income of $16 million in its most recent year. Net income is expected to grow by 3% per year. The firm always pays out 80% of net income as dividends and has 4 million shares of common stock outstanding. The required return is 13% What is the value of the stock? a. $32.96 O b. $36.56 O c. $25.20 Od. $46.65