12. PEI's Inc forecasts free cash flow in one year to be $10 million and free cash flow in two years to be $20 million. After the second year, free cash flow will grow at a constant rate of 4 percent per year forever. The weighted average cost of capital is 14 percent. The company's debt and preferred stock has a total market value of $50 million and there are 10 million outstanding shares of common stock. What is the price of the company's common stock per share? a. $13.42 b. $15.00 c. $16.67 d. $20.80 e. $22.80