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Dubai Metro's outstanding common stock is currently selling in the market for $ 3 3 . Dividends of $ 2 . 3 0 per share

Dubai Metro's outstanding common stock is currently selling in the market for $33. Dividends of $2.30 per share were paid last year, return on equity is 20%, and its retention rate is 25%. What is the value of the stock to you, given a 15% required rate of return?
a. $ 24.15
b. $ 20.15
c. $ 24.30
d. $ 35.30

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