Question: Zoom Enterprises expects that one year from now it will pay a total dividend of $4.6 milion and repurchase $4.6 milion worth of shares. It
Zoom Enterprises expects that one year from now it will pay a total dividend of $4.6 milion and repurchase $4.6 milion worth of shares. It plans to spend $9.2 milion on dividends and repurchases every year after that forever, although it may not always be an even spit between dividends and repurchases. If Zoom's equity cost of capital is 12.2% and it has 4.6 million shares outstanding. What is its share price foday? The price per share is $ (Round to the nearest cent.)
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