Consider the case of Petroxy Oil Co. Petroxy Oil Co. expects to earn $5.3 million this year. It currently has 830,000 shares outstanding at a market price per share of $18. Assuming that its price-to-earnings ratio remains constant and that earnings are unaffected y the repurchase, what will be the company's expected market price per share if it repurchases 90,000 shares at the current market price? Please show work.