Your broker has recommended that you purchase stock in National Bank & Trust, Inc. National Bank & Trust recently paid its annual dividend ($8.00). The firm also boasts an ROE of 15%, of which 50% is paid as dividends. Based on your analysis, you estimate that the stock has a required rate of 15.00%. What is the intrinsic value of this stock?

Choices:

$123.32

$106.98

$114.67

$119.60

$112.58