You estimate that Oakley will have net income of $14,235 and $15,178 in 2013 and 2014, respectively. Also, noncash working capital (operating current assets minus operating current liabilities) will increase by $4,746 in 2013 (relative to 2012) and decrease by $2,304 in 2014 (relative to 2013). Capital expenditures and interest expense (all paid in cash) and depreciation and amortization in both 2013 and 2014 will be the same as in 2012. Existing interest bearing debt is $68,007 and the interest rate is 7%. Oakley faces a tax rate of 35%. Assume a discount rate of 8% and that the sum of all years' adjusted cash flows 2015 and beyond total $415,000 when present valued to December 31, 2012. Estimate the fair value of a share of Oakley's stock as of December 31, 2012 using a discounted cash flow approach (they have 12.410 million shares outstanding).