Valence Electronics has 217 million shares outstanding. It expects eamings at the end of the year of $760 million. Valence pays out 40% of Its eamings in total 15% paid out as dividends and 25% used to repurchase shares. If Valenco's eamings are expected to grow by 6% pet year, these payout rates do not change, and Valence's equily cost of capital is 8%, what is Valence's share price? A. $24.40 8. $70.05 c. $10.51 D. $56.60