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Sultan Services has 1 . 3 million shares outstanding. It expects earnings at the end of the year of $ 5 . 8 0 million.

Sultan Services has 1.3 million shares outstanding. It expects earnings at the end of the year of $5.80 million. Sultan pays out 60% of its earnings in total -40% paid out as dividends and 20% used to repurchase shares. If Sultan's earnings are expected to grow by 6% per year, these payout rates do not change, and Sultan's equity cost of capital is 10%, what is Sultan's share price?
A. $13.38
B. $66.92
C. $40.15
D. $26.77
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