QUESTION 3 Study the following abstract and answer the question that follows: You have just graduated with a PGDIP and have been employed at Simbongile Ltd. The company has an EBIT of R7 75 million this year. Depreciation, the increase in Net Working Capital (NWC), and Capital Spending were R305 000 , R145 000 and R555 000 respectively. You expect that over the next 5 years, EBIT will grow at 17% per year, depreciation and capital spending will grow at 25\% per year, and NWC will grow at 12 percent per year. The company has R22,5 million in debt and 500000 shares outstanding. After Year 5, the adjusted cash flow from assets is expected to grow at 3.75 percent indefinitely. The company's WACC is 9.76 percent, and the tax rate is 27 percent. REQUIRED: 3.1 What is the price per share of the company's stock? (20)