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6 . Dunbar LTC , a national nursing home chain, is considering purchasing a smaller chain, Eastern Nursing Homes. Dunbar's analysts project that the merger

6. Dunbar LTC, a national nursing home chain, is considering purchasing a smaller chain, Eastern Nursing Homes. Dunbar's analysts project that the merger will result in free cash flows to equityholders with a present value of $122,178,084, and they have determined that the appropriate discount rate for valuing Eastern is 16 percent. Eastern has 5,040,350 shares outstanding and no debt. Eastern's current price is $16.25. What is the maximum price per share that Dunbar should offer?
Write your answer to the nearest cent.

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