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Dewey Corp. is expected to have an EBIT of $3,200,000 next year. Depreciation, the increase in...

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Finance

Dewey Corp. is expected to have an EBIT of $3,200,000 next year.Depreciation, the increase in net working capital, and capitalspending are expected to be $255,000, $160,000, and $260,000,respectively. All are expected to grow at 17 percent per year forfour years. The company currently has $20,500,000 in debt and870,000 shares outstanding. After Year 5, the adjusted cash flowfrom assets is expected to grow at 2.4 percent indefinitely. Thecompany’s WACC is 8.7 percent and the tax rate is 25 percent. Whatis the price per share of the company's stock? (Do notround intermediate calculations and round your answer to 2 decimalplaces, e.g., 32.16.)

Share price_____

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