Amarindo, Inc.$($AMR$),$ is a newly public firm with $8\mathrm{.}08\mathrm{.}0$ million shares outstanding. You are doing a valuation analysis of AMR. You estimate its free cash flow in the coming year to be $$$$14\mathrm{.}8914\mathrm{.}89$million$,$ and you expect the$$ firm's free cash flows to grow by $4\mathrm{.}14\mathrm{.}1\%$ per year in subsequent years. Because the firm has only been listed on the stock exchange for a short$$ time, you do not have an accurate assessment of$$ AMR's equity beta.$$ However, you do have beta data for$$ UAL, another firm in the same$$ industry: LOADING... $.$ AMR has a much lower$$ debt$-$equity ratio of $0\mathrm{.}270\mathrm{.}27,$ which is expected to remain$$ stable, and its debt is risk free.$$ AMR's corporate tax rate is $2020\%,$ the$$ risk$-$free rate is $4\mathrm{.}84\mathrm{.}8\%,$ and the expected return on the market portfolio is $10\mathrm{.}7\%10\mathrm{.}7\%.$

a$.$ Estimate$$ AMR's equity cost of capital.

b$.$ Estimate$$ AMR's share price.