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

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Assume that today is December 31,2021 , and that the following information applies to Abner Airtines: - After-tax operating income [EBIT(1 - T)] for 2022 is expected to be $450 million. - The depreciation expense for 2022 is expected to be $200 million. - The capital expenditures for 2022 are expected to be $200 million. - No change is expected in net operating working capitar. - The free cash flow is expected to grow at a constant rate of 7% per year, - The required retum on equity is 13%. - The WACC is 10%. - The firm has $205 million of nonaperating assets. - The market value of the company's debt is $5.278 billion. - 260 millien 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. $

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