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Your firm has outstanding debt equal to $278 million, cash holdings equal to $87 million, and 26 million shares outstanding

You have completed a DCF valuation of Taxis Incs operations and estimate an enterprise value of $445 million. There are currently 9 million shares outstanding. Taxis Inc has $10 million in debt and $24 million in cash. There are also 500,000 warrants outstanding with an average strike price of $4 per share.

Please estimate the equity value per share of Taxis Inc. (assuming exercise of the warrants).