Based on the corporate valuation model, Liberty Media has a total corporate value of $1,200 million. The company’s balance sheet shows $200 million of notes payable, $350 million of long-term debt, $100 million of preferred stock, $180 million of retained earnings, and $800 million of total common equity.
If the company has 20 million shares of stock outstanding, what is the best estimate of its stock price per share? [Type in your answer to the nearest penny].