XYZ Corp. is about to pay a dividend. Their earnings per share is $6.00. The companys return on equity is 16 percent and their plowback ratio is 45 percent. If the required return is 16 percent, what is the value of the stock?

a. 57.39

b. 37.5

c. 47.25

d. 72.77

Please provide the fornula and numbers you used to calculate it, thanks.