8B Peter Limited has 10 million outstanding shares, and the firm has no debt and the cost of equity is 10%. The company has $50 million excess cash and $x of other assets.

For the $50 million excess cash, the board is considering that whether it would be paid out as a special dividend or to use it to repurchase shares of the firm's stock. For the $x of other assets, it is expected that those assets could generate free cash flows of $40 million at the end of each year in the future, and the firm will pay out the entire amount of free cash flows as regular dividend at the end of each year.

Assume Peter Limited spent $50 million excess cash to pay a special dividend. Calculate the cum-dividend price of a share.