Valence Electronics has

$229229$

million shares outstanding. It expects earnings at the end of the year of

$ $730$$$730$

million. Valence pays out$40\%$ of its earnings in total$-15\%$ paid out as dividends and$25\%$ used to repurchase shares. If$$ Valence's earnings are expected to grow by

$77\%$

per$$ year, these payout rates do not$$ change, and$$ Valence's equity cost of capital is

$1010\%,$

what is$$ Valence's share$$ price?

Question content area bottom

Part $1$

A$.$$ $34\mathrm{.}00$

$ $34\mathrm{.}00$$$34\mathrm{.}00$

B$.$$ $42\mathrm{.}50$

$ $42\mathrm{.}50$$$42\mathrm{.}50$

C$.$$ $12\mathrm{.}75$

$ $12\mathrm{.}75$$$12\mathrm{.}75$

D$.$$ $6\mathrm{.}38$

$ $6\mathrm{.}38$