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Assume that today is December 31,2019 , and that the following information applies to Abner Airlines: - Aner-ter opersting incorne festrtt - D) for 2020

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Assume that today is December 31,2019 , and that the following information applies to Abner Airlines: - Aner-ter opersting incorne festrtt - D) for 2020 is expected to be $450 million. *. The depreciobon expense for 2020 is expected to be $70 milion. - The capital expenditures for 2020 are expected to be $200 million. - No change is expected in net operoting working capital. - The free cash flow is expected to grow at a constant rate of 6% per year. - The required return on equiky is 14%. - The WACC is 1146 . - The firm has $193 million of non-eperating assets - The market value of the company's dobt is $2.351 bilion. - 60 milien shares of stock are outstanding. Using the corporate valuation model approach, what should be the company's stock price today? Do not round intermediate calculations, Round your answer to the nearest cent. 5

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