You have looked at the current financial statements for J&R Homes, Company. The company has an EBIT of $$3,550,000$ this year.

Depreciation, the increase in net working capital, and capital spending were $$260,000,$$$124,000,$ and $$510,000,$ respectively. You

expect that over the next five years, EBIT will grow at $20$ percent per year, depreciation and capital spending will grow at $10$ per yea

and NWC will grow at $15$ per year. The company has $$21,000,000$ in debt and $415,000$ shares outstanding. After Year $5,$ the adjustec

cash flow from assets is expected to grow at $3\mathrm{.}15$ percent, indefinitely. The company's WACC is $9\mathrm{.}2$ percent and the tax rate is $23$

percent. What is the price per share of the company's stock?