You are valuing a company with free cash flows expected to grow at a stable 1.8% rate in perpetuity. Analysts are forecasting free cash flows of $41 million for next year (FCFF1). The company has $36 million of debt and $6 million of cash. Cost of capital is 13.1%. There are 13 million shares outstanding. How much is each share worth according to your valuation? Round to one decimal place.

???? Stock Price = (EV - debt - cash) / # of shares outstanding ????