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ICB Corp. , expects to have earnings per share of $ 1 2 . 0 0 in the coming year ( t = 1 )

ICB Corp., expects to have earnings per share of $12.00 in the coming year (t=1), and it will pay out $7.20 as dividends (at t=1). The return on retained earnings (ROE) is 20%. If its required return is 15%, what is the expected share price of ICB Corp.?(Round your answer to the nearest dollar).
Group of answer choices
$103
$56
$48
$160

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