Company Q's current return on equity (ROE) is 16% it pays out 50 percent of earnings as cash dividends (payout ratio = 0.50 ) Current book value per share is $42. Book value per share will grow as Q reinvests earnings. Assume that the ROE and payout ratio stay constant for the next two years. After that, competition forces ROE down to 8% and the payout ratio increases to 0.90 . The cost of capital is 15%. Question: What is Q's stock worth per share? (Choose the option closest to your answer) Muitiple Choice $39 533 544 536 $41