RBG, Inc. free cash flow for next year (FCF1) is expected to be $9 mill. Free cash flows are expected to grow at a rate of 6% forever. It also has the following financial information:

Market Value of RBG Debt = $120 mill

Short-term Investment = $ 25 mill

Book value of equity = $160 mill

Total Assets = $180 million

Shares outstanding = 2.5 million

Required return on stock = 12%

WACC = 10%

Using the coporate Valuation Model, calculate RBG's intrinsic equity value per share

a. $42. 98

b. $47. 27

c. $52. 00

d. $57.20

e. $62.92