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AFW Industries has 2 1 6 million shares outstanding and expects earnings at the end of this year of $ 7 3 5 million. AFW

AFW Industries has 216 million shares outstanding and expects earnings at the end of this year of $ 735 million. AFW plans to pay out 63% of its earnings in total, paying 34% as a dividend and using 29% to repurchase shares. If AFW's earnings are expected to grow by 8.6% per year and these payout rates remain constant, determine AFW's share price assuming an equity cost of capital of 12.9%.

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