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AFW Industries has 183 million shares outstanding and expects earnings at the end of this year of $686 million. AFW plans to pay out 64%

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AFW Industries has 183 million shares outstanding and expects earnings at the end of this year of $686 million. AFW plans to pay out 64% of its earnings in total, paying 35% as a dividend and using 29% to repurchase shares. If AFW's earnings are expected to grow by 7.5% per year and these payout rates remain constant, determine AFW's share price assuming an equity cost of capital of 11.5%. The price per share will be $ (Round to the nearest cent.)

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