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Aaron Inc. has 340 million shares outstanding. It expects earnings at the end of the year to be $556 million. The firm's equity cost of

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Aaron Inc. has 340 million shares outstanding. It expects earnings at the end of the year to be $556 million. The firm's equity cost of capital is 11%. 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 6% per year, what is Aaron's share price? A. $3270 B. $8.18 C. $16.35 D. $24.53

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