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The weighted average cost of capital is 12%, and the FCFs are expected to continue growing at a 3% rate after Year 5 . The

image text in transcribed The weighted average cost of capital is 12%, and the FCFs are expected to continue growing at a 3% rate after Year 5 . The firm has $24 million of market-value debt, but it has no preferred stock or any other outstanding claims. There are 18 million shares outstanding. What is the value of the stock price today (Year 0 )? Do not round intermediate calculations. Round your answer to the nearest cent. $ per share

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