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Portage Bay Enterprises has no debt, $1.2 milion in cash, and is expected to have free cash flow of $14 million next yoar. It is

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Portage Bay Enterprises has no debt, $1.2 milion in cash, and is expected to have free cash flow of $14 million next yoar. It is then expected to grow at a rate of 2% pet year forevor. If Portago Bay's equity cost of capital is 13% and it has 8 miltion shares outstanding, what shoutd the price of Portage Bay's stock be? The price of Portage Bay's stock is s per share. (Round to the nearest cent)

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