Fox News parent company, News Corp. is expected to grow its free cash flow to equity (FCFTE) by 10% for the next two years. After which the FCFTE is expected to grow by 5% for the next three years. After this five year period, the FCFTE is expected to grow by only 2% per year. News Corp.'s cost of equity capital is 12% and last year, the FCFTE for News Corp. was $2 on a per share basis. The stock price for News Corp should trade at:

$25.20

$28.57

$37.56

$16.21

$8.99