Based on the corporate valuation model, Gray Entertainment's total corporate value is $1,400 million. The company's balance sheet shows $120 million of notes payable, $300 million of long-term debt, $50 million of preferred stock, $180 million of retained earnings, and $800 million of total common equity. If the company has 30 million shares of stock outstanding, what is the best estimate of its price per share? $37.51 $32.86 $34.41 $24.18 $31.00