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Valence Electronics has 2 2 4 million shares outstanding. It expects earnings at the end of the year of $ 8 0 0 million. Valence

Valence Electronics has 224 million shares outstanding. It expects earnings at the end of the year of $800 million. Valence pays out 40% of its earnings in total -15% paid out as dividends and 25% used to repurchase shares. If Valence's eamings are expected to grow by 7% per year, these payout rates do not change, and Valence's equity cost of capital is 10%, what is Valence's share price?
A. $38.10
B. $14.29
C. $7.14
D. $47.62
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