Currently $($time $0)$ Company A is expected to survive another year in business $($until time $1),$ at which time the firm will liquidate and all value will be distributed to claimants. The firm is presently all equity financed with $50,000$ shares outstanding. The cash flow of the firm is risk free and it is common knowledge that Company A will receive $$1$ million immediately $($at time $0)$ and another $$1$ million at time $1.$ The company$$s current dividend policy is to pay out its entire free cash flow as dividends as it is received $($so $$20$ per share now and at time $1).$ Assume the risk free rate in the economy is $5\%$ and the firm has no positive NPV projects available. Calculate the current price per share $($at t$=0)$ before the dividends are paid out.

Time $0$: $1,000,000/1\mathrm{.}05=952,381$

Time $1$: $1,000,000/(1\mathrm{.}05)^2=907,029$

EV $=952,381+907,029=1,859,410$

Price per share $=$ EV $/$ shares outstanding

$=1,859,410/50,000$

$=$ $$37\mathrm{.}19$

Is my work correct? Please let me know if I solved this problem correctly, thank you!