Johnson Tech had $300 million in free cash flows last year, which is expected to increase by 5% per year for the next three years due to strong demand. Afterwards, you expect the growth rate will level off to 2% per year, indefinitely. The company currently has $600 million outstanding in debt, $10 million outstanding in preferred stock, and $7 million invested in treasury bills. Johnson Tech has 100 million common shares outstanding. The weighted average cost of capital is 10%.

Find the company's stock price. Round intermediate steps to four decimals.

34.41

55.60

35.44

32.49