You have estimated the following information on your firm. Their current cash flow from operating activities is $4 million and their current cash flow from investing activities is $-2 million. In addition, you forecast the following growth rates for FCFE over the next 5 years
g1 = 32%
g2 = 25%
g3 = 13%
g4 = 9%
g5-infinity = 4% per year
Finally, you feel that a 8% required return is appropriate and that the firm has 1.7 million shares outstanding. Based on this, the value of the stock is _____.