A company's weighted average cost of capital is 9.7% per year and the market value of its debt is $185.3 million. The company's free cash flow last year was $7.5 million and it is expected to grow 25% per year for the next three years. Thereafter, the free cash flow is expected to grow forever at a rate of 5.5% per year. If the company has five million shares of common stock outstanding, what is the value per share? 1) $24.36 2) $32.11 3) $16.23 4) $19.69 5) $28.09