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2.Florida Stores has 150 million shares outstanding and expects earnings at the end of this year of $1.8 billion, dividend distributions of $750 million and
2.Florida Stores has 150 million shares outstanding and expects earnings at the end of this year of $1.8 billion, dividend distributions of $750 million and stock repurchase of $450 million. If Floridas earnings are expected to grow by a constant rate of 5.8% per year, determine Floridas share price assuming an equity cost of capital of 8.8%. a) $40 billion b) $25 billion c) $266.67 d) $166.67
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