Shatin intl. has 8.8 million shares, an equity cost of capital of 13.1% and is expected to pay a total dividend of $20.6 million each year forever. It announces that it will increase its payout to shareholders. Instead of increasing is dividend, it will keep it constant and will start repurchasing $10.4 milion 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 netreut cont.) Shatin Intl, has 9.8 million shares, an equity cost of capital of 13.1% and is expected to pay a total dividend of $20.6 million each year forever. It announces that it will increase is payout to shareholders. Instead of increasing its dividend, it will keep it constant and will start repurchasing $10.4 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.)