Scrantini Technologies is expected to generate $25 million in free cash flow next year, and FCF is expected to grow at a constant rate of 4% per year indefinitely. Scrantini has no debt or preferred stock, and its WACC is 13%. If Scrantini has 50 million shares of stock outstanding, what is the stock's value per share? Round your answer to two decimal places.

Each share of common stock is worth _____$ according to the corporate valuation model.