The firm just earned $4.00 per share (EPS) in the last year and maintained its 50% payout on its dividend last year. In addition, you believe the required rate of return for the stock should be based on the firm's beta of 1.2, a risk free rate of 2% annually and a required return on the market of 10%. If dividends are growing at a constant 5% annually forever, what is the intrinsic value of the form? Do not round any interim calculations. Round the final answer to the nearest penny (e.g. $xxx.xx). $19.06 $21.25 $23.95 $2737 $31.82 $37.86 None of the above are correct