Chester Corporation has 10,000,000 shares outstanding with a price per share of $22.30 (previous to a share repurchase).

The firm repurchases 2,000,000 shares with a price per share of $27.30.

A share repurchase is a transaction whereby a company buys back its own shares from the marketplace. *As the repurchase price is greater than the market price, equity holders may sell shares to the firm only in proportion to their holding*

What will the share price be after the share repurchase is completed?

Assume that Modigliani-Miller and its assumptions are true.

Round the answer to two decimals.