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Derry Corporation is expected to have an EBIT of $ 3 , 4 5 0 , 0 0 0 next year. Depreciation, the increase in

Derry Corporation is expected to have an EBIT of $3,450,000 next year. Depreciation, the increase in net working capital, and capital spending are expected to be $280,000, $185,000, and $285,000, respectively. All are expected to grow at 17 percent per year for four years. The company currently has $23,000,000 in debt and 895,000 shares outstanding. At Year 5, you believe that the company's sales will be $29,400,000 and the appropriate price-sales ratio is 2.9. The companys WACC is 9.3 percent and the tax rate is 25 percent. What is the price per share of the company's stock?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.

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