Fertfood has a current market value of $30 million and earns $2,700,000 annually, while Tools-4U has a market value of $5 million and annual earnings of $1 million per year. If the companies merge an additional cash flow of $224193 would result next year. The merged firm will have 7 million shares. The merged firm's earnings in the first year will comprise the pre-merged earnings of each firm plus the additional cashflow mentioned above. If the post-merged firm's P/E ratio is expected to be 8 what is the expected market price per share using the P/E method? Please show workings.