a. CX Enterprises has the following expected dividends: $1.00 in one year, $1.15 in two years, and $1.25 in three years. After that, its dividends are expected to grow at 4% per year forever (so that year 4's dividend will be 4% more than $1.25 and so on). If CX's equity cost of capital is 12%, what is the current price of its stock? The price of the stock will be $_____. (Round to the nearest cent)

b. Shatin Intl. has 10 million shares, an equity cost of capital of 13% and is expected to pay a total dividend of $20 million each year forever. It announces that it will increase its payout to shareholders. Instead of increasing its dividend, it will keep it constant and will start repurchasing $10 million of stock each year as well. What is your estimate of Shatin's stock price after this announcement? The stock price will be $____. (Round to the nearest cent)

c. Tolo Co. plans the following repurchases: $10.4 million in one year, nothing in two years, and $20.8 million in three years. After that, it will stop repurchasing and will issue dividends totaling $24.7 million in four years. The total paid in dividends is expected to increase by 2.7% per year thereafter. If Tolo has 2.4 million shares outstanding and an equity cost of capital of 11.2%, what is its price per share today? The stock price will be $____. (Round to the nearest cent)