A company is projected to generate free cash flows of $400 million next year, growing at a 5% rate until the end of year 3. After that, cash flows are expected to grow at a stable rate of 2.5% in perpetuity. The company's cost of capital is 8.0%. The company owes $110 million to lenders and has $5 million in cash. If the company has 250 million shares outstanding, what is your estimate for its stock price? Round to one decimal place. (e.g., $4.32 = 4.3)