Mahomes Company has a current perlod cash flow of $$1\mathrm{.}1m$ ill on and pays no dividends. The present value of the company's future cash flows is $$24$ millon. The company is entirely financed with equity and has $730,000$ shares cutstanding. Assume the dividend tax rate is zero.

a$.$ What is the share price of the company's stock? $($Do not round intermediare celculations and round your answer to $2$ decimal places, o$.$g$.,32\mathrm{.}16.)$

Share price

b$.$ Suppose the board of directors of the company announces is plan to pay out $50$ percent of its current cash flow es cash dividends to its sharehalders Jeff Miller, who owns $1,300$ shares of the company $5$ stock. wants to achicve a zero payout policy on hls own, by buying or selling shares. How marny shares should he sell or buy? $($Do nat round intermediate colculations and round your answer to $2$ decimal places, e$\mathrm{.}9.32\mathrm{.}16.$

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