FTMS Company currently has an income of 9.40 million dollars and this cash flow of the company no permanent growth. Company currently paying all earnings above as dividends. FTMS has a chance. The association invested in two new projects. Project 1 will require $1.95 million investment in the 1st year while the 2nd project requires an investment of $2.05 million within two years from now. The 1st project is a two-year project and it will start to add more income: 2.75 and 3.05 million, respectively within two years from the time the company spends money on investment. While The second project is a three project year and will increase income by 4.05, 3.51 and 5.07 million respectively within three years from the time when the company spends money on investment. House's Investment requires a rate of return of 11% with shares of FTMS. Know the number of outstanding shares are 5.5 million neck. What is Intrinsic value of an FTMS share if the company decides implement both of the above investment projects?