Yesterday, Cyberdyne Systems paid out $1.825 billion in dividends and repurchased $4.795 billion worth of shares. Assume that all payouts occur at the end of the year. Next year's payouts (due in one year) are expected to be 1% bigger than last year's and are expected to grow at that same rate in perpetuity. Cyberdyne Systems has 1.48 billion shares outstanding and its shareholders require an 8% rate of return. What is the fair price for Cyberdynes's shares today?

$60.4

$69.25

$64.54

$67.45