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A company is projected to generate free cash flows of $304 million next year, growing...

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A company is projected to generate free cash flows of $304 million next year, growing at a 6% rate until the end of year 3. After that, cash flows are expected to grow at a stable rate of 2.2% in perpetuity. The company's cost of capital is 10.6%. The company owes $78 million to lenders and has $24 million in cash. If the company has 154 million shares outstanding, what is your estimate for its stock price? Round to one decimal place. (e.g., $4.32 = 4.3) Type your numeric answer and submit

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