Shatin Intl. has 10.3 million shares, an equity cost of capital of 12.9% and is expected to pay a total dividend of $19.7 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 $10.3 million of stock each year as well. What is your estimate of Shatin's stock price after this announcement?