Ward Corp. is expected to have an EBIT of $2,650,000 next year. Depreciation, the increase in net working capital, and capital spending are expected to be $180,000, $115,000, and $130,000, respectively. All are expected to grow at 17 percent per year for four years. The company currently has $20,500,000 in debt and 850,000 shares outstanding. At Year 5, you believe that the company's sales will be $17,400,000 and the appropriate price−sales ratio is 2.6. The company’s WACC is 9.5 percent and the tax rate is 35 percent.
What is the price per share of the company's stock?