8) Brianna Tan, CFA is evaluating the stock of Seowei Shipping Inc., which recently went public. She expects Seowei Shipping's first dividend to be paid in five years in the amount of $5 per share and that the company will maintain a dividend payout ratio of 30% after that. Tan estimates the company's cost of equity is 18% and its return on equity is a constant 8%. Based on this information, Seowei Shipping's intrinsic value per share to the nearest dollar is