Question: Dewey Corp. is expected to have an EBIT of $3,250,000 next year. Depreciation, the increase in net working capital, and capital spending are expected to

Dewey Corp. is expected to have an EBIT of $3,250,000 next

Dewey Corp. is expected to have an EBIT of $3,250,000 next year. Depreciation, the increase in net working capital, and capital spending are expected to be $260,000, $165,000, and $265,000, respectively. All are expected to grow at 18 percent per year fr four years. The company currently has $21,000,000 in debt and 875,000 shares outstanding. After Year 5, the adjusted cash flow from assets is expected to grow at 2.5 percent indefinitely. The company's WACC is 8.8 percent and the tax rate is 21 percent. What is the price per share of the company's stock? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Share price

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