Plans the repurchases

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Tolo Co. plans the following? repurchases: $ 10.4 million in one? year, nothing in two? years, and $ 20.3 million in three years. After? that, it will stop repurchasing and will issue dividends totaling $ 24.1 million in four years. The total paid in dividends is expected to increase by 3 % per year thereafter. If Tolo has 2.1 million shares outstanding and an equity cost of capital of 10.7 %?, what is its price per share? today? The stock price will be ?$nothing . ?(Round to the nearest? cent.)

Reference no: EM131816023

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