P7-24 (similar to) Question Pep Tolo Co plans the following repurchases: $10.3 million in one year, nothing in two years, and $19 million in three years. After that, it will stop repurchasing and will issue dividends totaling $25.5 million in four years. The total paid in dividends is expected to increase by 3.1% per year thereafter. If Tolo has 2.1 million shares outstanding and an equy cost of capital of 11.4%, what is its price per share today? The stock price will be $ (Round to the nearest cent.)