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River Enterprises has $ 5 0 4 million in debt and 1 8 million shares of equity outstanding. Its excess cash reserves are 1 7

River Enterprises has $ 504 million in debt and 18 million shares of equity outstanding. Its excess cash reserves are 17 million. They are expected to generate $206 million in free cash flows next year with a growth rate of 2% per year in perpetuity. River Enterprises' cost of equity capital is 11%. After analyzing the company, you believe that the growth rate should be 3% instead of 2%. How much higher(in dollars) would the price per share be if you are right?

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