Alexas Corporation reports the following:

	2015
Earnings per share	$1.80
Dividends per share	$0.72
Book value per share - at end of the year	$8.62

Analysts' expected earnings for Alexas for next two years are: 2016: $2.00 2017: $2.23 Cost of equity is 15%. Return on equity is expected to equal cost of equity from 2018 onwards. Dividend payout ratio is expected to remain the same for 2016 and 2017. Price per share at the end of 2015 would be closest to:

Group of answer choices

$9.89

$9.45

Not determinable

$9.81