Suppose a firm had Net Income of $1,258,716 last year. They paid a dividend per share of $.15 for each of their 5 million shares outstanding. The firm has $10.54 million dollars in total assets, of which $6.28 million is Equity. If the firm has a required rate of return of 11.54% and is expected to pay a dividend of $.60, what is the expected price according to the DGM?

a. $26.78

b. $8.94

c. $17.44

d. $18.85