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Dewey Corp. is expected to have an EBIT of $2.45 million next year. Depreciation, the increase...

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Dewey Corp. is expected to have an EBIT of $2.45 million nextyear. Depreciation, the increase in net working capital, andcapital spending are expected to be $180,000, $85,000, and$185,000, respectively. All are expected to grow at 18 percent peryear for four years. The company currently has $13 million in debtand 800,000 shares outstanding. After Year 5, the adjusted cashflow from assets is expected to grow at 2.5 percent indefinitely.The company’s WACC is 9.1 percent and the tax rate is 21 percent.What is the price per share of the company’s stock?

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