Dale Enterprises, a regional hardware chain, is considering purchasing a smaller chain, Campbell Ace. Dales analysts project that the merger will result in incremental free flows and interest tax savings with a combined present value of $72.52 million, and they have determined the appropriate discount rate for valuing Campbell is 16%. Campbell has 4 million shares outstanding and no debt. Campbells current price is $16.25. What is the maximum price per share that Dale should offer?