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You are considering buying common stock in Grow On, Inc. You have calculated that the firm's free cash flow was $5.20 million last year. You

You are considering buying common stock in Grow On, Inc. You have calculated that the firm's free cash flow was $5.20 million last year. You project that free cash flow will grow at a rate of 18.0% per year for the next three years, and then 7.0% per year thereafter. The firm currently has outstanding debt and preferred stock with a total market value of $39.43 million. The firm has 2.31 million shares of common stock outstanding. If the firm's cost of capital is 14.0%, what is the most you should pay per share for the stock now?

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