Charlie Dobbs is considering investing in Astrotech. His research has revealed the following:

The market is returning 11%.

Three-month Treasury bills are yielding 5%.

Astrotech's beta is 1.2.

Astrotech recently paid a dividend of $1.50.

Analysts expect Astrotech to grow at 4% indefinitely.

How much should Charlie be willing to pay for a share of Astrotech?

a. $19.02

b. $12.00

c. $10.26

d. $18.29