IBM currently has FCFF of $10, expected to grow at 7% for 3 years and then 3% thereafter. The cost of capital (WACC) is 6.5% and there are 100 shares outstanding. Total debt amounts to 25. What is IBM's price per share, according to the discounted cash flow model (DCF) using FCFF?

Group of answer choices

3.29

2.05

3.04

3.87