Willoughby Enterprises invests a lot of money in R&D, and as a result it retains and reinvests all of its earnings instead of paying dividends. A pension fund manager is interested in purchasing Willoughbys stock and has estimated its free cash flows for the next 3 years as follows: $3 million, $5 million, and $11 million. After the 3rd year, FCF is projected to grow at a constant 9 percent. Willoughbys WACC is 14 percent, its debt and preferred stock total $50 million, and it has 3 million shares of common stock outstanding. What is the value of Willoughbys stock price?