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Derry Corporation is expected to have an EBIT of $2,950,000 next year. Depreciation, the increase in net working capital, and capital spending are expected to

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Derry Corporation is expected to have an EBIT of $2,950,000 next year. Depreciation, the increase in net working capital, and capital spending are expected to be $230,000,$135,000, and $235,000, respectively. All are expected to grow at 18 percent per year for four years. The company currently has $18,000,000 in debt and 845,000 shares outstanding. At Year 5 , you believe that the company's sales will be $28,400,000 and the appropriate price-sales ratio is 3.1. The company's WACC is 9.4 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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