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Pearl Corp. is expected to have an EBIT of $1.8 million next year. Depreciation, the increase in net working capital, and capital spending are expected

Pearl Corp. is expected to have an EBIT of $1.8 million next year. Depreciation, the increase in net working capital, and capital spending are expected to be $155,000, $75,000, and $115,000, respectively. All are expected to grow at 18 percent per year for four years. The company currently has $9.5 million in debt and 750,000 shares outstanding. After Year 5, the adjusted cash flow from assets is expected to grow at 3 percent indefinitely. The companys WACC is 8.5 percent and the tax rate is 21 percent. What is the price per share of the company's stock?

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