You have looked at the current financial statements for Reigle Homes, Co. The company has an EBIT of $3,190,000 this year. Depreciation, the increase in net working capital, and capital spending were $242,000, $107,000, and $500,000, respectively. You expect that over the next five years, EBIT will grow at 16 percent per year, depreciation and capital spending will grow at 21 per year, and NWC will grow at 11 per year. The company currently has $18,500,000 in debt and 385,000 shares outstanding. At Year 5, you believe sales will be $21,800,000 and the price−sales ratio will be 2.9. The company’s WACC is 9.1 percent and the tax rate is 40 percent.

What is the price per share of the company's stock?