Sanders Ltd, Paid a $4

Sanders Ltd, paid a $4.00 dividend per share last year and is expected to continue to pay out 60% of its earnings as dividends for the foreseeable future. If the firm is expected to generate a 13% return on equity in the future, and if you require a 15% return on the share, the value of the share is ________.

A) $26.67
B) $35.19
C) $42.94
D) $59.89