NORDAM Group, a firm that specializes in the design and manufacturing of aircraft components, has 170 million shares outstanding and analysts expect NORDAM to have earnings of $430 million this coming year (t=1). NORDAM plans to pay out 59% of its earnings in dividends and they expect to use another 13% of their earnings to repurchase shares. NORDAM's equity cost of capital is 12%. Its earnings are expected to grow at a rate of 3% per year and these payout rates are expected to remain constant. What is the value of one share of NORDAM stock today? A. $16.58 B. $15.18 C. $3.65 D. $20.24 E. $28.10 OF. None of the above answers is within $0.05 of the correct