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TTC recently introduced a new line of products that has been wildly successful. On the basis of this success and anticipated future success, the following

TTC recently introduced a new line of products that has been wildly successful. On the basis of this success and anticipated future success, the following free cash flows were projected (in millions): Year 1 2 3 4 5 6 7 8 9 10 FCF $5.1 $9.9 $24.9 $41.7 $70.5 $85.5 $106.8 $131.3 $144.4 $159.2 After the 10th year, TTC's financial planners anticipate that its free cash flow will grow at a constant rate of 7%. Also, the firm concluded that the new product caused the WACC to fall to 9%. The market value of TTC's debt is $1,400 million, it uses no preferred stock, it has zero nonoperating assets; and there are 20 million of common stock outstanding. Use the corporate valuation model to value the stock. Round your answer to the nearest cent. $ fill in the blank 13 per share

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