Based on the Corporate Valuation Model,the Total Corporate Value of Chen

Based on the corporate valuation model,the total corporate value of Chen Lin Inc.is $725 million.Its balance sheet shows $110 million in notes payable,$90 million in long-term debt,$20 million in preferred stock,$140 million in retained earnings,and $280 million in total common equity.If the company has 25 million shares of stock outstanding,what is the best estimate of its stock price per share?

A) $20.20
B) $18.18
C) $21.21
D) $22.83
E) $24.44