Klausenheimer Corporation reports the following Earnings per share Dividends per share Book value per share at the end of the year Analysts expected earnings for the next two years to be 2011: $3.00 2012: $3.20 2010 $2.50 $0.50 $10.00 Cost of equity is 20%. ROCE is expected to equal cost of equity from 2013 onwards. Dividend payout ratio is expected to remain the same in 2011 and 2012. Price per share at the end of 2010 would be closest to $