Honeycutt Corp. is comparing two different capital structures. Plan I would result in 20,000 shares of stock and $76,500 in debt. Plan II would result in 14,000 shares of stock and $229,500 in debt. The interest rate on the debt is 4 percent. Assume that EBIT will be $65,000. An all-equity plan would result in 23,000 shares of stock outstanding. Ignore taxes. What is the price per share of equity under Plan I