Your stockbroker tells you the beta on Apple Corp is 1.50, a U.S. Treasury pays 3%, theS&P500 is expected to return 12.0% over the next year, and an Apple bond has a YTM of 8.0%. You know that Apple is planning to pay a $10.60 dividend per share over the next year (D1 = $10.60). Based on this information, and an expected constant growth rate of 10%,for what do you think a share of Apple should sell?

(a) $ 151.43

(b) $ 176.67

(c) $1,060.00

(d) $ 530.00

(e) $ 353.33