At the end of its fiscal year 2012, the Coca-Cola Company (KO) has earnings per share of $2.48 and dividends per share of $1.76. The total depreciation amounts to $1,260 million and capital expenditure amounts to $1,484 million. The company has a debt ratio (total long-term debt to total assets) of 40.41%. The company plans to keep the same debt ratio while raising additional capital through debt to finance new investment for capital expenditure. The company has 4,324.3 million shares outstanding in the market. Assume that the risk-free rate of return stands at 4.57%, market risk premium stands at 5.86%, and the beta of the company is 0.70.

If you assume that the FCFE will grow at a constant rate of 4% per year forever, what is the value per share?