Nomura Inc. is currently an all-equity firm and has 200,000 shares. The company has an earnings before interest and taxes (EBIT) of $400,000, and distributes 40% of its earnings as dividends. Its dividend is expected to grow at a constant rate of 5% per year, and the current WACC is 13%. The company is considering a recapitalization where it will issue $630,000 in debt and use the proceeds to buy back its own shares at the prevailing market price of $6.30 per share. The before-tax interest rate on the newly-issued debt is 5% per annum. After the recapitalization, its cost of equity will increase by 5%. Assuming that the company maintains the same payout ratio and its corporate tax rate is 40%, what will be its stock price following the recapitalization?