Based on the corporate valuation model, Liberty Medias total corporate value is $1,200 million. The companys balance sheet shows $120 million of notes payable, $300 million of long-term debt, $50 million of preferred stock, $180 million of retained earnings, and $800 million of total common equity. If the company has 30 million shares of stock outstanding, what is the best estimate of its price per share?

a. $21.90 b. $24.33 c. $26.77 d. $29.44 e. $32.39