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Sultan Services has 1.5 million shares outstanding. It expects earnings at the end of the year of $5.70 million. Sultan pays out 60% of its

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Sultan Services has 1.5 million shares outstanding. It expects earnings at the end of the year of $5.70 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 11%, what is Sultan's share price? ... O A. $9.12 O B. $18.24 OC. $27.36 OD. $45.60

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