Jean Jacque is evaluating Pharmet by using the FCFF valuation approach. Jean has collected the following information (currency in dollars): O Pharmet has a net income of $261 million, depreciation of $92 million, capital expenditures of $157 million, and an increase in working capital of $49 million. Pharmet will finance 40 percent of the increase in net fixed assets (capital expenditures less depreciation) and 40 percent of the increase in working capital with debt financing. Interest expenses are $166 million. The current market value of Pharmet's outstanding debt is $1,686 million. FCFF is expected to grow at 5 percent indefinitely. The tax rate is 26 percent. Pharmet is financed with 30 percent debt and the rest for equity. The before-tax cost of debt is 8 percent, and the before-tax cost of equity is 12 percent. Phaneuf has 10 million outstanding shares. Your task is to estimate the total value of the equity per share. Write your answer in decimal form and round it to two decimal places