Dent Corp. has just reported annual free-cash-flows of $ 1000 million. Dent Corp. expects to have an
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Dent Corp. has just reported annual free-cash-flows of $ 1000 million. Dent Corp. expects to have an investment ratio of 50% and an ROIC of 15% indefinitely. Dent Corp currently has $ 200 million in net debt, 100 million shares outstanding, and an annual weighted average cost of capital of 9.00%. Given this information, estimate the price of a share of Dent Corp.s common stock using the discount free-cash-flow model. Round your final answer to two decimals.
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