Last year, CKS had sales of $8B, EBIT of $50m, Net Working Capital of $108m, and capital expenditures matching its depreciation. The year before that, BKSs Net Working Capital was $120m. CKS has 60m shares outstanding, its effective tax rate is 20% and its debt ratio is 30%. Investors require a 5% (unadjusted) yield on the debt and 9% return on equity.

The discount rate for the FCFF model is_________ %. (Provide your answer in percent, rounded to two decimals, omitting the % sign.)

The share price estimate, if CKS will continue to operate infinitely with a constant free cash flow to the firm growth rate of 6%, is _______