You are about to take over a car leasing company with Free Cash Flow to the Firm projected to be $9 million at the end of the next year. This is expected to grow by 2% in the following year, and forever thereafter. the firm owes the bank $20 million and has just lost a lawsuit making it liable to pay the complainant $5 million. The appropriate risk-adjusted annual discount rate is 10%. How much is this company worth per share if there are 2 million shares outstanding?

a. $35.76

b. $41.88

c. $43.75

$39.03