Wyatt Oil has assets with a market value of $600 million, $79 million of which are cash. It has debt of $250 million, and 20 million shares outstanding. Assume perfect capital markets. If Wyatt Oil distributes the $79 million as a dividend, then its stock price after the dividend will be closest to:

Select one:

a. $12.50

b. $26.05

c. $13.55

d. $17.50