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be sure to round to the nearest cent Tolo Co. plans the following repurchases: $9.9 million in one year, nothing in two years, and $19.1

image text in transcribedbe sure to round to the nearest cent

Tolo Co. plans the following repurchases: $9.9 million in one year, nothing in two years, and $19.1 million in three years. After that, it will stop repurchasing and will issue dividends totaling $24 million in four years. The total paid in dividends is expected to increase by 2.8% per year thereafter. If Tolo has 1.9 million shares outstanding and an equity cost of capital of 11.3%, what is its price per share today? The stock price will be $ (Round to the nearest cent.)

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