Valence Electronics had 217 mil shares outstanding. It expects earnings at the end of the year to be 760 mil. Valence pays out 40% of its earnings in total, 15% paid out as dividends and 25% to repurchase shares. I f valence's earnings are expected to grow by 6%, these payout rates don't change, and Valence's equity cost of capital is 8%, what is Valence's share price?
A)10.51
B)24.40
C)56.60
D)70.05