Consider a company that is forecasted to generate free cash flows of $27 million next year and $31 million the year after. After that, cash flows are projected to grow at a stable rate of 2.9% in perpetuity. The company's cost of capital is 7.8%. The company has $49 million in debt, $14 million of cash, and 26 million shares outstanding. How much is each share worth? Round to one decimal place.