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Day Inc., is expected to have an EBIT of $2.03 million next year. Depreciation, the increase in net working capital, and capital spending are expected
Day Inc., is expected to have an EBIT of $2.03 million next year. Depreciation, the increase in net working capital, and capital spending are expected to be $144,509, $76,472, and $104,617, respectively. All are expected to grow at 22 percent per year for five years. The company currently has $12 million in debt and 1,113,434 shares outstanding. After Year 5, the adjusted cash flow from assets is expected to grow at 4 percent indefinitely. The company's WACC is 10.2 percent and the tax rate is 25 percent. What is the price per share of the company's stock? [Round the final answer to the nearest cent]
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