Question: Company X is a no growth firm. It is expected to provide a constant earnings per share of $30. If all earnings are paid out as dividends and the required rate of return on equity is 15%, calculate the current price per share for the stock.
a) $45
b) $100
c) $150
d) $200
e) Not enough information to answer the question
f) There is enough information provided but none of the answers above is correct.