A company is forecasted to generate free cash flows of $25 million next year and $27 million the year after. After that, cash flows are projected to grow at a stable rate in perpetuity. The company's cost of capital is 8.1%. The company has $31 million in debt, $16 million of cash, and 16 million shares outstanding. Using an exit multiple for the company's free cash flows (EV/FCFF) of 20, what's your estimate of the company's stock price?

		a. 30.8
		b. 26.8
		c. 14.9
		d. 10.6
		e. 18.0