Quasi Corp. currently has a rate of return on capital (ROC) of 10% and is expected to be able to maintain that in perpetuity. The company has a debt-to-equity ratio of 0, faces a corporate income tax rate of 50% and pays 4% before-tax interest rate on its debt. Quasi Corp. is expected to have earnings per share next year of $2 and is expected to have a dividend-payout ratio of 50% in perpetuity. Shares in Quasi Corp.'s stock are forecast to have an unlevered = 1. The risk-free rate is currently equal to 5% and the market risk premium is equal to 5%. According to the dividend discount model, Quasi Corp.'s current intrinsic value per share must be equal to:

$5.00

$100.00

$20.00

$40.00