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AFW Industries has 2 1 8 million shares outstanding and expects earnings at the end of this year of $ 6 6 8 million. AFW

AFW Industries has 218 million shares outstanding and expects earnings at the end of this year of $668 million. AFW plans to pay out 55% of its earnings in total, paying 31% as a dividend and using 24% to repurchase shares. If AFWS 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 11.7%.
The price per share will be (Round to the nearest cent)C
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