2 pts Question 14 Advanced Chemical Industries is awaiting the verdict from a court case over whether it is liable for the clean-up of wastes on a disused factory site. If it Is liable, this will result in a reduction of its free cash flow by $29 million per year for 13 years. If it is not liable, there will be no effect. On the close of trading the day before the announcement of the verdict, Advanced Chemicals was trading at $20 per share. Most investors calculate that there is a 100% chance that Advanced Chemicals will have a verdict returned against them. One investor, Jo, has performed extensive research into the outcome of the trial and estimates that there is no chance Advanced Chemicals will have a verdict returned against them. Given that Advanced Chemicals has 63 million shares outstanding and an equity cost of capital of 12 % with no debt, Jo's estimate of the value of a share of Advanced Chemicals would be how much more than the market price? Round to 2 decimal places. e. 1.00 for $1.00 more than the market price per share