Tarmac Airlines has 115 million shares outstanding and expects earnings at the end of this year of $370 million. Tarmac plans to pay out 40% of its earnings as a dividend and 20% of its earnings through share repurchases. The firm has an equity cost of capital of 8%. If Tarmac' earnings are expected to grow by 3% per year and these payout rates remain constant, what is Tarmac's share price? A) $64.35 B) $24.13 C) $16.09 D) $38.61 E) $25.74