Based on the corporate valuation model, the total corporate value of Chen Lin Inc. is $1,350 million. Its balance sheet shows $110 million in notes payable, $90 million in long-term debt, $20 million in preferred stock, $140 million in retained earnings, and $280 million in total common equity. If the company has 25 million shares of stock outstanding, what is the best estimate of its stock price per share?

	a.	$45.20
	b.	$35.26
	c.	$52.43
	d.	$38.42
	e.	$36.16