The common stock of Etar Company currently sells for $32.50 per share. In an attempt to determine whether Etar Company is fairly priced, you have assembled the following information:

- The before-tax required rates of return on Etar debt, preferred stock and common stock are, respectively, 7.0%, 6.8%, and 11.0%.

- The company's target capital structure is 30% debt, 15% preferred stock, and 55% common stock.

- The market value of the company's debt is $145 million, and its preferred stock is valued at $65 million.

- Etar's FCFF for the year just ended is $32 million. FCFF is expected to grow at a constant rate of 5% for the foreseeable future.

- The tax rate is 30%.

- Etar has 7.5 million outstanding common shares.

What is Etar's estimated common stock value per share?

Group of answer choices

$76.00

$98.55

$82.02

$55.82

$64.29