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This Question! 1 pt 21 01 24 21 CUT Shatin Intl, has 10 million shares, an equity cost of capital of 13% and is expected

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This Question! 1 pt 21 01 24 21 CUT Shatin Intl, has 10 million shares, an equity cost of capital of 13% and is expected to pay a total dividend of $20 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 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)

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