XYZ Bank is expected to pay a dividend of Rs 12 per share after one year. The dividends are not likely to grow in future. Appropriate discount rate is 12% p.a.

What is the likely market price of its shares now based on the Gordons Growth Model?

Select one:

a. Rs 200

b. Rs 100

c. Rs 12

d. Rs 24

e. Rs 1000