A common stock has earnings per share (E/S) of $1.50, payout ratio of 0.60,PE ratio of 10 , and annual rate of growth of earnings and dividended of 6%. If you want to earn 10% return, should you buy this stock? What is the maximum price you should be willing to pay for this stock? Use valuation model. The market price is less than the valuation ($23.85) and should be purchased The market price is less than the valuation ($23.85) and should not be purchased The market price is more than the valuation ($23.85) and should not be purchased The market price is more than the valuation ($23.85) and should be purchased None of the above