Valence Electronics Has 217 Million Shares Outstanding

Valence Electronics has 217 million shares outstanding.It expects earnings at the end of the year of $760 million.Valence pays out 40% of its earnings in total 15% paid out as dividends and 25% used to repurchase shares.If Valence's earnings are expected to grow by 6% per year,these payout rates do not change,and Valence's equity cost of capital is 8%,what is Valence's share price?

A) $10.51
B) $24.40
C) $56.60
D) $70.05