Beangrinder Corp. has an expected rate of return on equity next year (ROE₁) equal to 12% and a reinvestment rate next year (RIR₁), equal to 50%. Beangrinder Corp.'s equity beta is equal to 1 and the company is expected to have an earnings per share next year (EPS₁), equal to $3. The long-run risk-free rate is equal to 1% while the stock market risk premium is forecast to equal 7%. What is Beangrinder Corp.'s intrinsic equity value per share equal to?