Derry Corporation is expected to have an EBIT of $3,800,000 next year. Increases in depreciation, the increase in net wo

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Derry Corporation is expected to have an EBIT of $3,800,000 next
year. Increases in depreciation, the increase in net working
capital, and capital spending are expected to be $160,000,
$175,000, and $215,000, respectively. All are expected to grow at
19 percent per year for four years. The company currently has
$19,500,000 in debt and 1,750,000 shares outstanding. After Year 5,
the adjusted cash flow from assets is expected to grow at 3 percent
indefinitely. The company’s WACC is 8.8 percent and the tax rate is
25 percent. What is the price per share of the company's
stock?