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Valence Electronics has 228 million shares outstanding. It expects earnings at the end of the year of $760 million. Valence pays out 40% of its

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Valence Electronics has 228 million shares outstanding. It expects earnings at the end of the year of $760 million. Valence pays out 40% of its earnings in total 15% paid out as dividends and 25% used to repurchase shares. If Valence's earnings are expected to grow by 6% per year, these payout rates do not change, and Valence's equity cost of capital is 10%, what is Valence's share price? A. $5.00 B. $26.66 C. $33.33 D. $10.00

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