Mississippi Mud Products Would Like to Issue New Equity Shares

Mississippi Mud Products would like to issue new equity shares if its cost of equity declines to 9.5 percent.The company pays a constant annual dividend of $4.80 per share.What does the market price of the stock need to be for the firm to issue the new shares?

A) $49.33
B) $48.83
C) $50.53
D) $51.63
E) $52.13