Based on the corporate valuation model, the present value of a Black Bean Inc. cash flow s is $1,199 million. Its balance sheet shows $22 million in excess cash, not related to the firm's operations, $104 million in notes payable, $97 million in long-term debt, $21 million in preferred stock, $146 million in retained earnings, and $22 million in total common equity. Assume that the book value of debt is close to its market value. The company has 31 million shares of common shares outstanding. What is the best estimate of the common stock's price per share?

Round the answer to two decimals.