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Suppose you are valuing a company that is growing its free cash flows at a stable 2.5% annual rate in perpetuity. It is projected to

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Suppose you are valuing a company that is growing its free cash flows at a stable 2.5% annual rate in perpetuity. It is projected to generate free cash flows of $116 million next year and its cost of capital is 10.9%. Debt is $455 million, cash balance is $135 million, and shares outstanding is 192 million. What is your estimate for the value of each share? Round to one decimal place

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