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Year 1 2 3 4 5 Free Cash Flow $23 million $25 million $29 million $32 million $34 million XYZ Industries is expected to generate

Year 1 2 3 4 5 Free Cash Flow $23 million $25 million $29 million $32 million $34 million

XYZ Industries is expected to generate the above free cash flows over the next five years, after which free cash flows are expected to grow at a rate of 2% per year. If the weighted average cost of capital is 8% and XYZ has cash of $20 million, debt of $48 million, and 61 million shares outstanding, what is General Industries' expected current share price?

Round to the nearest one-hundredth.

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