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Walmart will generate revenues of $174 million next year with an operating margin of 39%. Walmarts tax rate is expected to be 21% and it

Walmart will generate revenues of $174 million next year with an operating margin of 39%. Walmarts tax rate is expected to be 21% and it is projected to have a reinvestment rate of 39%. After that, Walmart is expected to start growing its free cash flows at a stable rate of 1.9% in perpetuity (terminal phase starts after year 1). Walmart's cost of capital is 11.5%. It has $68 million of debt and $12 million in cash. There are 8 million shares outstanding. How much is each share worth based on these projections?

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