rate of interest is $4\%$ and the market risk premium is $8\%.$ each year for Years $1,2,$ and $3.$ After Year $3,$ a target capital structure of $30\%$ debt will be maintained. Interest at Year $4$ will be $$1\mathrm{.}402$ million, after which the interest and the tax shield will grow at $6\%.$

Indicate the range of possible prices that Hastings could bid for each share of Vandell common stock in an acquisition. Do not round intermediate calculations. Round your answers to the nearest cent.

The bid for each share should range between $ per share and $ per share.