River Enterprises has $200 million in debt and 21.59 million shares of equity outstanding. Its excess cash reserves ar River Enterprises' cost of equity capital is 14%. What is the fair value of the the stock? Express your answer in dollars sh reserves are $50 million. They are expected to generate $200 million in free cash flows next year with a growth rate of 3% per year in perpetuity. swer in dollars with two decimals