A firm with return on equity 20% and beta 0.9 just distributed all its earnings ( $12 per share) as dividends. The expected market return is 15% and the risk-free rate is 5%. The firm can keep distributing all its earnings to shareholders each year or retain 25% for reinvestment. What is the price of the stock, if all earnings are distributed as dividends moving forward? a. $85.7 b. $71.4 c. $60 d. $120 e. $64.3 f. $133.3