90. An analyst attempting to value the shares of a company has gathered the following data:
Return on equity 12%
Dividend payout ratio 40%
Required rate of return on shares 15%
Current year’s dividend per share $3.60
Using the Gordon growth model, the intrinsic value per share is closest to:
A. $36.96.
B. $46.15.
C. $49.49.
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