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Shahn Inti has 10 million shares, an equity cost of capital 12%, and is expected to pay a total dividend of $22 million each year

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Shahn Inti has 10 million shares, an equity cost of capital 12%, and is expected to pay a total dividend of $22 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 515 million of stock each year as well. How much will its stock price increase? The stock pnce will increase by $ (Round to the nearest cent)

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