Cork Bottlers has 84 million shares outstanding and expects earnings at the end of this year of $54 million. Cork plans to pay out 30% of its earnings as a dividend and 10% of its earnings through share repurchases. The firm has an equity cost of capital of 12%. If Tarmac' earnings are expected to grow by 6.5% per year and these payout rates remain constant, what is Tarmac's share price?

A.$4.68

B.$5.24

C.$3.51

D.$11.69

E.$2.14