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BH Corp's free cash flow to the firm is expected to be $114 million. The firm's interest expense is $15 million. Assume the tax rate
BH Corp's free cash flow to the firm is expected to be $114 million. The firm's interest expense is $15 million. Assume the tax rate is 35% and the net debt of the firm increases by $4 million. There are 20 million shares of equity outstanding. What is the predicted price of the stock if the FCFE is projected to grow at 2% indefinitely and the cost of equity is 14%? Round answer to two decimal places.
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