Shatin Intl. has $9\mathrm{.}7$ million shares, an equity cost of capital of $13\mathrm{.}3\%$ and is expected to pay a total dividend of $$20\mathrm{.}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\mathrm{.}2$ million of stock each year as well. What is your estimate of Shatin's stock price after

this announcement?

The stock price will be $$|.($Round to the nearest cent.$)$