Question: Zoom Enterprises expects that one year from now it will pay a total dividend of $5 million and repurchase $5 million worth of shares. It

Zoom Enterprises expects that one year from now it will pay a total of $5 million and repurchase $5 million worth of shares. It plans to spend $10 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 capital is 13% and it has 5 million shares outstanding, what is its share price today?

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