AFW Industries has $224$ million shares outstanding and expects earnings at the end of this year of $ $652$ million. AFW plans to pay out $55\%$ of its earnings in$$ total, paying $39\%$ as a dividend and using $16\%$ to repurchase shares. If$$ AFW's earnings are expected to grow by $8\mathrm{.}4\%$ per year and these payout rates remain$$ constant, determine$$ AFW's share price assuming an equity cost of capital of $11\mathrm{.}5\%.$

Question content area bottom

Part $1$

The price per share will be $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$