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

Based on the corporate valuation model,Gay Entertainment's total corporate value 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