Valence Electronics has 237 milion shares outstanding. It expects earnings at the end of the year of 5770 million. Valence pays out 40% of its earnings in total - 15% Valence's equity cost of capital is 10%, what is Valence's share price? paid out as dividends and 25% used to repurchase shares. If Valence's eamings are expected to grow by 5% per year, these payout rates do not change, and O A $25.99 OB. 53.90 OC. $20.79 OD. $780