Foundation, Incorporated, is comparing two different capital

structures: an all$-$equity plan $($Plan I$)$ and a levered plan $($Plan

II$).$ Under Plan I, the company would have $195,000$ shares of stock

outstanding. Under Plan II$,$ there would be $145,000$ shares of stock

outstanding and $$2\mathrm{.}13$ million in debt outstanding. The interest

rate on the debt is $8$ percent and there are no taxes.$$Use M&M Proposition I to find the price per

share.$($Do not round intermediate calculations and

round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$