\begin{tabular}{ll} 3 & FCF Forecast (\$ million) \\ \hline 4 & Year \\ \hline 5 & Sales \\ \hline 6 & Growth versus Prior Yeat \\ \hline 7 & EBIT ( 10% of Sales) \\ \hline 8 & Less: Income Tax (37\%) \\ \hline 9 & Less increase in NWC ( 12% of Change in Sales) \\ 10 & Free Cash Flow \\ Banco Industries expect sales to grow at a rapid \end{tabular} rate over the next three years, but settle to an industry growth rate of 5% in year 4 . The spreadsheet above shows a simplified pro forma for Banco Industries. If Banco industries has a weighted average cost of capital of 11%, $50 million in cash, S80 million in debt, and 18 million shares outstanding, which of the following is the best estimate of Banco's stock 11 price at the start of year 1