Simple Two-Stage FCFE Model

Current Sales per share =$10

Sales growth for first three years=20% and 5% thereafter

Net income margin (NI/sales) forever=10%

Net investment in fixed capital=40% of sales increase

Annualincreaseinworkingcapital=25% of sales increases

Debt financing=30% of the net investment in capital equipment and working capital

Required return on equity =12%

What is equity value per share?

Please show all intermidiate steps and final answer