Question: Need help with this concept please help solve and explain. Thanks Tolo Co. plans the following repurchases: $10 million in one year, nothing in two

Need help with this concept please help solve and explain. Thanks ToloNeed help with this concept please help solve and explain. Thanks

Tolo Co. plans the following repurchases: $10 million in one year, nothing in two years, and $20 million in three years. After that, it will stop repurchasing and will issue dividends totaling $25 million in four years. The total paid in dividends is expected to increase by 3% per year thereafter. If Tolo has 2 million shares outstanding and an equity cost of capital of 11%, what is its price per share today? The stock price will be $. (Round to the nearest cent.)

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