Yesterday, Wernham Hogg paid out $1.948 in dividends and repurchased 54.243 worth of shares. Wernhar Hogg has 1.188 shares outstanding Analysts expect total payouts to grow at an annual perpetual rate of 1% and investors require a 75% rate of return on Wernham Hogg shares. What is the total payout model estimate of the stock price today assuming that all payouts occur annually? (the next payout will occur in one year) Approach PE/N where E = Value of Equity = PV of payouts PV of payouts = {$TPOX (1+9)/(k-9) Select one O a $80.57 O b.581.38 O 577.73 Od $6081 O e 569.83