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A company is projected to generate free cash flows of $12 million per year for the next two years, followed by a stable growth of

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A company is projected to generate free cash flows of $12 million per year for the next two years, followed by a stable growth of 2.5% per year in perpetuity. The company's cost of capital is 9%. It has $8 million worth of debt and $4 million of cash. There are 16 million shares outstanding. What's the estimated share value based on these projections? Round to one decimal place

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