You have following information about a company:

Book value of equity per share $=$$$40$

ROE$=20\%$

Required return on equity $=12\%$

Estimated residual income growth rate $=6\%$

Use a single$-$stage residual income model and calculate the intrinsic value of the company's common stock.

a$)$ $$40$

b$)$ $$53\mathrm{.}33$

c$)$ $$93\mathrm{.}33$

d$)$ $$120$

e$)$ $$100$