Check my Permian Partners (PP) produces from aging oil fields in west Texas. Production is 199 million barrels per year in 2018. but productions declining at 5% per year for the foreseeable future. Costs of production, transportation and administration add up to $26.90 per barrel. The average oil price was $66.90 per barrel in 2018 PP has 8.9 million shares outstanding. The cost of capital is 7%. All of PP's net income is distributed as dividends. For simplicity assume that the company will stay in business forever and that costs per banel are constant at 526 90 Also ignore tawes 8. Assume that oil prices are expected to fall to $6190 per barret in 2019.55690 per barrel in 2020, and 55190 per barrelin 2021 After 2021 assume a long-term trend of oil price increases at 3% per year. What is the ending 2018 value of one PP share? (Do not round Intermediate coleulations. Round your answer to 2 decimal places.) Share vale 2016 b-1. What is PP's EPSIP ratio (Do not round intermediate calculations. Round your answer to 4 decimal places) EPSP ratio b-2 Is it equal to the 7% cost of capital