You are valuing GM as of the end of 2015. You estimate that GMs required rate of return is 11 percent. Your other forecasts are: long-term net profit margin = 3.5 percent, dividend payout ratio = 30 percent and earnings growth rate = 5 percent. Given that GMs sales per share for financial year ending Dec 31, 2015 is $295, the intrinsic value of GM stock (based on the Gordon growth model) is closest to:

$58.24

$52.35

$51.63

$54.21

$55.38