Burger King is considering the purchase of Commercial Bakeries. Commercial Bakeries bakes buns and bagels used by several fast food restaurant chains, including Burger King. Burger King sees the purchase as a way to maintain a consistent supply of bakery products to its operators and franchisees. The current free cash flow for Commercial Bakeries is $28.9 million. The cash flows are expected to grow at 7% for the next five years before leveling off to 4% for the indefinite future. The cost of capital for Burger King and Commercial Bakeries is 10% and 8%, respectively. Commercial Bakeries is publicly traded and has 18 million shares of stock outstanding and $142 million in debt outstanding. Commercial Bakeries also has $28 million in cash and cash equivalents. What is the maximum price per share Burger King should pay for Commercial Bakeries?