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Aaron Inc. has 337 million shares outstanding. It expects earnings at the end of the year to be $590 million. The firm's equity cost of

Aaron Inc. has 337 million shares outstanding. It expects earnings at the end of the year to be $590 million. The firm's equity cost of capital is 10%. Aaron pays out 50% of its earnings in total: 30% paid out as dividends and 20% used to repurchase shares. If Aaron's earnings are expected to grow at a constant 5% per year, what is Aaron's share price?

A. $8.76

B. $35.02

C. $17.51

D. $26.27

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