why choose B, please explain step by step

Question 11: A shares has just paid a dividend of $2 per share. Its total required return is 8% pa. Its expected dividend growth rate is 3% pa. Its expected payout ratio is 70%. The stock can be valued using the dividend discount model, Gordon growth model or PE multiple. Calculate the stock's forward-looking PE ratio or multiple. (a) 2 *(b) 14 (c) 14.42 (d) 40 (e) 41.2 JL