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Year 1 2 3 4 5 Free Cash Flow $21 million $25 million $28 million $31 million $34 million XYZ Industries is expected to generate

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Year 1 2 3 4 5 Free Cash Flow \$21 million \$25 million \$28 million \$31 million \$34 million XYZ Industries is expected to generate the above free cash flows over the next five years, aftei which free cash flows are expected to grow at a rate of 3% per year. If the weighted average of capital is 8% and XYZ has cash of $13 million, debt of $36 million, and 75 million shares outstanding, what is General Industries' expected current share price? Enter your answer in dollars and round to the nearest cent. Do not include the dollar sign (\$)

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