Problem
Scampini Technologies is expected to generate $200 million in free cash flow next year, and FCF is expected to grow at a constant rate of 3% per year indefinitely. Scampini has no debt or preferred stock, and its WACC is 12%, and it has zero nonoperating assets. If Scampini has 65 million shares of stock outstanding, what is the stock's value per share? Do not round intermediate calculations.