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ABC Enterprise has never paid a dividend. Free cash flow is projected to be $20 million and $35 million for the next 2 years, respectively;

ABC Enterprise has never paid a dividend. Free cash flow is projected to be $20 million and $35 million for the next 2 years, respectively; after the second year, FCF is expected to grow at a constant rate of 6%. The companys weighted average cost of capital is 12%. ABC has short-term investments of $100 million, the total debt of $100 million, and preferred stock of $20 million. ABC has 15 million shares of common stock. What is the intrinsic price per share? (Do not use the dollar sign ($) and round your answer to 2 decimal points)

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