1. Giant Pretzels operates pretzel stands in shopping malls. Below is information related to the company:

(dollar amounts in thousands)	2012	2013	2014	2015	2016	2017
Net Cash Flow from Operations	564	628	854	1059	1345	1655
Interest Expense after tax	122	134	148	145	155	148
Decrease (Increase) in Cash Required for Operations	-75	-54	-48	-32	-61	-48
Net Cash Flow from Investing	-287	-300	-310	-285	-294	-277
Net Cash from Debt Financing	210	204	140	85	-40	-46
Present Value Factors (Re = 8.5%)	0.922	0.849	0.783	0.722	0.665
Common Shares Outstanding in thousands	1,512

Using the above information and assuming that steady-state growth in year 2017 and beyond will be 4% calculate Giant Pretzels current value per share.