Company Z's earnings and dividends per share are expected to grow indefinitely by 5% a year. Assume next year's dividend per share is $10. The cost of equity is 8%. If Company Z were to distribute all of its earnings, it could maintain a level dividend stream of $15 a share. How much is the market actually paying per share for growth opportunities? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Present value growth opportunities

Company Z's earnings and dividends per share are expected to grow indefinitely by 5% a year. Assume next year's dividend per share is $10. The cost of equity is 8%. If Company Z were to distribute all of its earnings, it could maintain a level dividend stream of $15 a share. How much is the market actually paying per share for growth opportunities? Note: Do not round intermediate calculations. Round your answer to 2 decimal places