Given the following estimated financial results, value the stock of Fish Chips, Inc. , using the infinite period dividend discount model (DDM).
Sales of $1000000
Earnings of $150000
Total assets of $800000
Equity of $400000
Dividend payout ratio of 60.0%
Average shares outstanding of 75000
Real risk free interest rate of 4.0%
Expected inflation rate of 3.0%
Expected market return of 13.0%
Stock Beta at 2.1
The per share value of Fish Chips stock is approximately: (Note: Carry calculations out to at least 3 decimal places. )（）
A. $17.91.
B. $26.86.
C. -$26.39.
