Codswallop Disposal Inc

Codswallop Disposal Inc.is an all equity firm.At the end of the current year,the CFO expects EBIT to be $10M,and the same earnings are expected annually in perpetuity.The company is not growing,so CAPEX and investments in net working capital are zero.Codswallop's shareholders require a return of 8%.Codswallop has 20 million shares outstanding.The corporate tax rate is 30%.What is the market value of Codswallop's shares?

A) $0.44
B) $4.38
C) $6.25
D) $8.75
E) $3.84