At the end of the current year, analysts expect BlackBerry's EBIT to be $17.5M and they expect the same earnings annually in perpetuity. The cost of unlevered equity for the company is 10%. The company has 10M shares outstanding and $10M of debt outstanding. The company is rated AAA and bondholders demand a yield of 5%. The management of the company believes that the company is under-levered. To increase the leverage, the management proposes to repurchase 1M shares at a price of $10.20 per share. The repurchase will be financed by additional borrowing. The corporate tax rate is 38%. What will the stock price be after the repurchase? Answer rounding to the nearest cent. Do not include any symbols, such dollar sign (\$). For example, if the answer is $12.3456, enter 12.35