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AFW Industries has 214 million shares outstanding and expects earnings at the end of this year of $719 million. AFW plans to pay out 56%

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AFW Industries has 214 million shares outstanding and expects earnings at the end of this year of $719 million. AFW plans to pay out 56% of its earnings in total, paying 31% as a dividend and using 25% to repurchase shares. If AFW's earnings are expected to grow by 8.3% per year and these payout rates remain constant, determine AFW's share price assuming an equity cost of capital of 12.3%. The price per share will be $ . (Round to the nearest cent.)

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