The following information has been collected regarding Burton Dee Company:
Free cash flow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,500
Annual growth rate in free cash flow over the past five years . . . . . . . . . . . . . . . . . . . . . . . . 25%
Number of shares outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,000
Required rate of return on equity capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12%
Length of time until terminal year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 years
Estimate a price per share for Burton Dee’s stock using the discounted free cash flow model.