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MCA reported $2 earning per share for the year that just ended. The firm's ROE is 12% and its Plowback ratio is 0.6. If the

MCA reported $2 earning per share for the year that just ended. The firm's ROE is 12% and its Plowback ratio is 0.6. If the firm's market capitalization rate is 10%, what is the present value of its growth opportunities? (rounded to 2 decimal points)

a.$9.19 million

b.None of the other choices

c.$12.62 million

d.$10.63 million

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