Assume that a firm is expected to have $$15,500,000$ of free cash flow over the coming year

$(FC{F}_1)$ and that this free cash flow is expected to then grow at an annual rate of $3$ percent.

Also assume that the firm has $$65,000,000$ of debt $($market value$)$ outstanding and

$3,800,000$ shares of common stock. Finally assume that the firm's WACC is $12$ percent.

Based on this information, and assuming that the firm's capital structure consists solely of

this debt and common stock, determine the intrinsic price of the firm's stock on a per share

basis.

$$28\mathrm{.}95$

$$26\mathrm{.}75$

$$27\mathrm{.}49$

$$28\mathrm{.}22$

$$29\mathrm{.}68$