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Shatin inti. has 10 million shares, an equify cost of capital 13%, and is expectod to pay a total dividend of $18 milion each year

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Shatin inti. has 10 million shares, an equify cost of capital 13%, and is expectod to pay a total dividend of $18 milion each year forever. it amounces that it will increase its pwout to aharehoiders. inslead of increasing ts dividend, it will keep it constant and will start repurchasing so million of atock each year as weit. How much will its stock price increase? The stock price will increase by 1 (Found to the nearest cent.)

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