Split between dividends and repurchases

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Zoom Enterprises expects that one year from now it will pay a total dividend of $5.1 million and repurchase $5.1 million worth of shares. It plans to spend $10.2 million on dividends and repurchases every year after that? forever, although it may not always be an even split between dividends and repurchases. If? Zoom's equity cost of capital is 12.8% and it has 5.1 million shares? outstanding, what is its share price? today?

The price per share is

?$ (Round to the nearest? cent.)

Reference no: EM131508058

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