19.A company is expected to generate free cashflows of $60 million next year, projected to grow at a 5% annual rate until the end of year 3, and then at a stable 2% rate in perpetuity thereafter. You estimate that the company's cost of capital is 11%. It has $250 million debt and $15 million cash. Number of shares outstanding is 10 million. How much would you be willing to pay for each share? Round to the nearest cent.

		a. $29.9
		b. $33.8
		c. $38.5
		d. $46.7
		e. $54.1