ART has come out with a new and improved product. As a result, the firm projects an ROE of $25\%,$ and it will maintain a plowback ratio of $0\mathrm{.}20.$ It earnings this year will be $$4\mathrm{.}0$ per share. Investors expect a $12\%$ rate of return on the stock. What price do you expect ART shares to sell for in $4$

Multiple Choice

$$52\mathrm{.}92$

$$55\mathrm{.}57$

$$53\mathrm{.}57$

$q,$

$$49\mathrm{.}38$