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Derry Corporation is expected to have an EBIT of $ 3 , 2 0 0 , 0 0 0 next year. Depreciation, the increase in

Derry Corporation is expected to have an EBIT of $3,200,000 next year. Depreciation, the increase in net working capital, and capital spending are expected to be $255,000,$160,000, and $260,000, respectively. All are expected to grow at 17 percent per year for four years. The company currently has $20,500,000 in debt and 870,000 shares outstanding. At Year 5, you believe that the company's sales will be $28,900,000 and the appropriate price-sales ratio is 2.4. The company's WACC is 8.7 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.
Share price
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