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Sultan Services has 1.4 million shares outstanding. It expects eamings at the end of the year of $5.9 million. Sultan pays out 60% of its

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Sultan Services has 1.4 million shares outstanding. It expects eamings at the end of the year of $5.9 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 5% per year, these payout rates do not change, and Sultan's equity cost of capital is 11%, what is Sultan's share price? A. $42.14 B. $25.28 C. $8,43 D. $16.86

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