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River Enterprises has $ 5 0 0 million in debt and 2 3 million shares of equity outstanding. Its excess cash reserves are $ 1

River Enterprises has $500 million in debt and 23 million shares of equity outstanding. Its excess cash reserves are $13 million. They are expected to generate $204 million in free cash flows nex
year with a growth rate of 2% per year in perpetuity. River Enterprises' cost of equity capital is 12%. After analyzing the company, you believe that the growth rate should be 3% instead of 2%. Ho
much higher (in dollars) would the price per share be if you are right?
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