Based on the Corporate Valuation Model, Gay Entertainment's Value of Operations

Based on the corporate valuation model, Gay Entertainment's value of operations is $1,200 million. The company's balance sheet shows $120 million of notes payable, $300 million of long-term debt, $50 million of preferred stock, $180 million of retained earnings, and $800 million of total common equity. If the company has 30 million shares of stock outstanding, what is the best estimate of its price per share?

A) $21.90
B) $24.33
C) $26.77
D) $29.44
E) $32.39