Pacor Industries recently paid its annual dividend of $2. Dividends have consistently grown at a rate of 2.7%. Analysts estimate that the stock has a beta of 1.00. The current risk-free rate is 2.3% and the market return is 10.1%. Assuming that CAPM holds, what is the intrinsic value of this stock?

Group of answer choices

$27.44

$27.76

$29.35

$29.02

$28.07