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Shady Sunglasses operates retail sunglass kiosks in shopping malls. Below is information related to the company: (dollar amounts in thousands) Net Cash Flow from Operations

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Shady Sunglasses operates retail sunglass kiosks in shopping malls. Below is information related to the company: (dollar amounts in thousands) Net Cash Flow from Operations Interest Expense after tax Decrease (Increase) in Cash Required for Operations Net Cash Flow from Investing 2014 2016 2011 2012 2013 2015 564 628 854 1059 1345 1655 122 134 148 145 155 148 -75 54 48 32 -61 48 -287 -300 -310 -285 -294 -277 210 204 140 85 40 4 Net Cash from Debt Financing Present Value Factors (Re 8.5%) 0.922 0.849 0.783 0.722 0.665 Common Shares Outstanding in thousands 1,512 Using the above information and assuming that steady-state growth in year 2017 and beyond will be 4% calculate Shady Sunglasses' current value per share

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