Suppose that, for valuation purposes, you find out that the average trailing Price-to-Book (P/B) multiple of the farming/agricultural industry is 3 times. Australian Agricultural Project (ASX ticker: AAP) recently reported a book value of equity of $10 million. Given that AAP has 2 million shares outstanding, the intrinsic value of AAP stock should be Select one: a. $5.00 b. $10.00 c. $15.00 d. $30.00 e. None of the options provided.