ManuTeX, Ltd has 5 million in cash that will be used to repurchase shares. The plan has already been appropriately announced to the market. ManuTeX is currently an all-equity firm with 5 million shares outstanding, each trading at 12 per share. ManuTeX has not issued any other securities except for stock options granted to employees. The market value of the options is currently 8 million. Assuming perfect capital markets, what is the market value per share immediately following the announcement of the repurchase program?