For the year that just ended. Vernon Corp. generated free cash flow of $68 million. These free cash flows are expected to grow at a constant rate of 5% per year indefinitely. Vernon has a weighted average cost of capital, WACC, equal to 9.0%. Vernon has $480 million of debt and 27 million shares of common stock outstanding (and no preferred stock). Vernon also holds $80 million of short-term investments. What is the intrinsic per share value of Vernon Corp. common stock?

a. $45.37

b. $51.30

c. $57.73

d. $62.82

e. none of the above