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Tolo Co. plans the following repurchases: $10.2 million in one year, nothing in two years, and...

Tolo Co. plans the following repurchases: $10.2 million in one year, nothing in two years, and $19.2 million in three years. After that, it will stop repurchasing and will issue dividends totaling $25.8 million in four years. The total paid in dividends is expected to increase by 3.1% per year thereafter. If Tolo has 2.4 million shares outstanding and an equity cost of capital of 10.9%, what is its price per share today? The stock price will be $ . (Round to the nearest cent.)

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jeff jeffy answered 4 days ago
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