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  3. tolo co plans the following repurchases 9 6 millio

Tolo Co plans the following repurchases 9 6 million in one year nothing in two...

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Calculus

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Tolo Co plans the following repurchases 9 6 million in one year nothing in two years and 20 6 million in three years After that it will stop repurchasing and will issue dividends totaling 24 4 million in four years The total paid in dividends is expected to increase by 2 9 per year thereafter If Tolo has 2 3 million shares outstanding and an equity cost of capital of 10 9 what is its price per share today The stock price would be Round to the nearest cent

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