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the firm's free cash flow was $6.10 million last year. You project that free cash flow will grow at a rate of 8.0% per year

the firm's free cash flow was $6.10 million last year. You project that free cash flow will grow at a rate of 8.0% per year indefinitely. The firm currently has outstanding debt and preferred stock with a total market value of $16.80 million. The firm has 2.96 million shares of common stock outstanding. If the firm's cost of capital is 16.0%, what is the most you should pay per share for the stock now?

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