You have been assigned the task of using the corporate valuation model to estimate Hannahs intrinsic value. Hannah's WACC is 12.00%, its expected end-of-year free cash flow (FCF₁) is $125 million, the FCFs are expected to grow at a constant rate of 4.00% a year in the future, the company has $162.5 million of long-term debt plus preferred stock, and it has 50 million shares of common stock outstanding. What is the per-share estimate of the stocks intrinsic value?

a. $28.00

b. $30.00

c. $34.00

d. $37.50

e. $39.00