Eat-a-Peach Inc. is a Georgia-based peach farming company. Eat-a-Peach is trading for $ 23.56 per share and has 400

million shares outstanding. The company has excess cash that it wants to distribute using a fixed-price tender offer. It has announced that it will pay $ 26.62 per share and that it seeks to buy back 15 % of outstanding shares. What will the stock price be after the repurchase? Assume that the company is all equity financed.

The stock price will be ?

after the repurchase.?(Round to two decimal places.)