The Empire Company has just reported $4 earnings per share. The company stock beta is 1.50 and Return on Equity is 20%. Assume a 3% risk free rate and 6% market risk premium. Management considers three options. A- Permanent dividend payout of 75%; B- National expansion that will require 25% dividend payout for four years and return to 75% permanent dividend payout after that; C; Worldwide expansion, that will require zero dividend payout for eleven years, and return to 75% permanent dividend payout after that. Calculate the stock price under the three options.