$22.$

these pares expected to grow by $5\%$ per year, these payout rates do not change, and Valence's equity cost of capital is $9\%,$ what is Valence's share price?

A$.$ $$9\mathrm{.}12$

B$.$ $$4\mathrm{.}56$

C$.$ $$24\mathrm{.}32$

D$.$ $$30\mathrm{.}40$