Valence Electronics has 218 million shares outstanding. It expects earnings at the end of the year of $770 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 6% per year, these payout rates do not change, and Valence's equity cost of capital is 9%, what is Valence's share price? O A. $7.06 O B. $14.13 O C. $47.09 OD. $37.67