Shatin Intl. has $9\mathrm{.}9$ million shares, an equity cost of capital of $13\mathrm{.}5\%$ and is expected to pay a total dividend of $$20\mathrm{.}4$ 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{.}3$ million of stock each year as well. What is your estimate of Shatin's stock price after this announcement?

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