$3$ Galaxy Als, previously a no$-$growth firm, has two million shares outstanding. Until now, it consistently earned $$30$ million per year on its assets. $($It has no debt and pays out all earnings as dividends. Its cost of capital is $10$ percent.$)$ Due to its newly appointed CEO, Galaxy Air is now able to squeeze out $1$ percent annual growth by plowing back $5$ percent of earnings. Calculate its stock price per share.

Multiple Choice

$$150\mathrm{.}00$

$$30000$

$$160\mathrm{.}10$

$$159\mathrm{.}92$