Your friend Katelyn Lugshery would like you to help him to calculate the price per share of First Financial Corp (FFC). Next year the company is projected to have $1.9M in EBIT. Depreciation is expected to be $165,000, NWC is expected to increase by $85,000 and capital spending $115,000. Over the next 4 years EBIT and all the above mentioned expenses are expected to increase by eighteen percent.

The company has 800,000 of outstanding shares and $13 million in debt. In a conference call with analysts the CFO of FFC had stated that cashflow from assets are expected to grow at 3% indefinitely. The organizations tax rate is 35% and the companys WACCC is 8.5%. What would be the price of FFC shares?