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Tolo Co. plans the following repurchases: $ 9.6$9.6 million in one year, nothing in two years, and $ 19.7$19.7 million in three years. After that,
Tolo Co. plans the following repurchases: $ 9.6$9.6 million in one year, nothing in two years, and $ 19.7$19.7 million in three years. After that, it will stop repurchasing and will issue dividends totaling $ 25.2$25.2 million in four years. The total paid in dividends is expected to increase by 2.6 %2.6% per year thereafter. If Tolo has 22 million shares outstanding and an equity cost of capital of 11.3 %11.3%, what is its price per share today?
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