Nvidia is considering the purchase of ARM Inc. which is currently a supplier for Nvidia and the acquisition would allow Nvidia to better control its supply. The current cash flow from assets for ARM is $7.7 million. The cash flows are expected to grow at 6% for the next 5 years before leveling off to 3% for the indefinite future. The costs of capital for Nvidia and ARM are 10% and 8%, respectively. ARM currently has 3 million shares of stock outstanding and $25 million in debt outstanding. What is the maximum price per share Nvidia should pay for ARM?