K$\mathrm{.}47$ Corporation plans to issue equity to raise $$30$ million to finance a new investment. After making the investment, K$\mathrm{.}47$ expects to earn free cash flows of $$11$ million each year. K$\mathrm{.}47$ currently has $5$ million shares outstanding and no other assets or opportunities.

Suppose that with leverage, K$\mathrm{.}47\text{'}$s expected free cash flows will decline to $$9$ million per year due to reduced sales and other financial distress costs. Assume that the appropriate discount rate for K$\mathrm{.}47\text{'}$s future free cash flows is $6\%$ and corporate tax rate is $30\%.$ What is K$\mathrm{.}47\text{'}$s share price today given the financial distress costs of leverage?