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Assume that today is December 31, 2021, and that the following information apples to Abner Airlines: - After-tax operating income [E81T(1 - T)] for 2022

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Assume that today is December 31, 2021, and that the following information apples to Abner Airlines: - After-tax operating income [E81T(1 - T)] for 2022 is expected to be $550 million. - The depreciation expense for 2022 is expected to be 5180 millon. - The capital expenditures for 2022 are expected to be 5425 million. - No change is expected in net operating working captal. - The free cash flow is expected to grew at a constant rate of 7% per year. - The required return on equity is 16%. - The WACC is 10%. - The firm has $206 million of hanoperating assets. - The market value of the compary's debt is 13.833 balion. - 120 mililon shares of tock are outatanting Uaing the corporate valuation model approech, what should be the company's stock price today? Do not round intermedate calculations. Round your answer to the nearest cent. 5

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