Analysts expect ElectroSoft to generate $124.5 million of free cash flow at the end of the current year. (Assume that cash flows occur on December 31 and today January 1.) Analysts expect Electrosoft's cash flow to grow at 3% in perpetuity. Electrosoft has no debt and its shareholders require a return of 12%. There are 151.51515 million shares outstanding, and the shares trade for $9.13. ElectroSoft has announced a stock repurchase. It intends to buy 60 million shares at a price of $10 per share. The repurchase will be debt financed. What will the stock price be after the repurchase? Assume that Electrosoft will maintain its resulting debt-to-equity ratio in perpetuity. The cost of debt is 5% and the tax rate is 35%. $9.68 $9.83 $9.98 $9.42