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Warning Enterprises has $5,000,000 in excess cash, with no debt, and is expected to have free cash flow of $12,000,000 million next year. Its free
Warning Enterprises has $5,000,000 in excess cash, with no debt, and is expected to have free cash flow of $12,000,000 million next year. Its free cash flow is then expected to grow at a rate of 2% per year forever. If Warning Enterprises equity cost of capital is 13% and it has 5,000,000 million shares which are outstanding, what should be the price of Warning's stock? Round to two decimal places.
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