Nonconstant Growth and Corporate Valuation

Capital gains yield:

$\%$

d$.$ TTC recently introduced a new line of products that has been wildly successful. On the basis of this success and anticipated future success, the following free cash flows were projected $($in millions$)$:

Year

FCF

$\mathrm{.}7$

After the $10$th year, TTC$\text{'}$s financial planners anticipate that its free cash flow will grow at a constant rate of $6\%.$ Also, the firm concluded that the new product caused the WACC to fall to $8\%.$ The market value of TTC$\text{'}$s debt is $$1,000$ million, it uses no preferred stock, it has zero nonoperating assets; and there are $20$ million of common stock outstanding. Use the corporate valuation model to value the stock. Round your answer to the nearest cent.

$ per share