Help Please

Tartan thdustries currently has total capital equal to 34 million, has zero debt, is in the 25% federal-plus-Mate tax bracket, has a net income of $4 million, and diutributer 405 of its tamings at dividenes. Net income is expected to grow at a constant rate of 5% per yea, 230,000 shares of stock are outstanding, and the current wacc is 13.00%. The combany is convedering a recopitaitation where it win issue 51 million in debt and use the proceeds to repurchase stock. Investment barikers have esimated that if the company goes through with the recapitaication, its before-tax cost of debt will be 11% and its cost of equity will rise to 14.5%. a. What is the stocks current price per share fbefore the recspitalization)? Do not round intermedigte calculations. Round your answer to the nearest cent. s round interenediote calodabors. Fiound your answor to the nearest cent