Consider a company that is forecasted to generate free cash flows of $22 million next year and $31 million the year after. After that, cash flows are projected to grow at a stable rate of 1.9% in perpetuity. The company's cost of capital is 7.8%. The company has $34 million in debt, $14 million of cash, and 28 million shares outstanding. How much is each share worth? Round to one decimal place.