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A company just reported the following results for its most recent fiscal year: Total revenues: $ 5 8 6 million, operating profit margin: 2 7

A company just reported the following results for its most recent fiscal year: Total revenues: $586 million, operating profit margin: 27%, tax rate: 20%, reinvestment rate: 65%. It has $100 million debt and $30 million cash. Number of shares outstanding is 50 million. You forecast that the company's FCFF will grow 10% over the next 2 years, and at a stable 2.1% rate in perpetuity thereafter. You estimate that the company's cost of capital is 11%. How much would you be willing to pay for each share? Round to the nearest cent.

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