NORDAM Group, a firm that specializes in the design and manufacturing of aircraft components, has 150 million shares outstanding and analysts expect NORDAM to have earnings of $450 million this coming year (t=1). NORDAM plans to pay out 59% of its earnings in dividends and they expect to use another 12% of their earnings to repurchase shares. NORDAM's equity cost of capital is 13%. 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. $21.30 B. $17.70 C. $3.60 D. $16.38 E. $30.00 OF. None of the above answers is within $0.05 of the correct