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$3\%$ per year, $480,000$ shares of stock are outstanding, and the current WACC is $12\mathrm{.}00\%.$ and its cost of equity will rise to $16\mathrm{.}5\%.$

a$.$ What is the stock's current price per share $($before the recapitalization$)?$ Do not round intermediate calculations. Round your answer to the nearest cent.

$ to the nearest cent.

$