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Tolo Co plans the following repurchases: $9.7 million in one year, nothing in two years, and $20.3 million in three years. After that, it will stop repurchasing and will issue dvidends totaling S24.9 millon in four years. The total paid in dividends is expected to increase by 3.1% per year thereafter. If Tolo has 23 milon shares outstanding and an equity cost of capital of 1 1.5%, what is its price per share today? The stock price will be (Round to the nearest cent.)
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ke Microsoft Excel Home nert Page Layout Formulas Data Review View dd-Ins Cut Σ AutoSum ー E ゴWrap Text aCopy B 1 프 . 灬 ▲· 逻锂函Merge & Center. $, % , 弼,8 conditional Format eCell Insert Delete Format Sort &Find & Format Painter Formatting as Table Styles2 Clear Clipboard Alignment Number Cells Edting Formula Bar 472 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 4HKE CAPM UTILITY, SH SHARES OUTSTANDING DIVIDEND PAID DIVIDEND PER SHARE (D4) 2.3 MILLION 24.9 MILLION 10.83 (24.9/2.3) D5 D4(1+g)- 10.83(1+0.031) P4 -D5/(ke -g11.17/(0.115-0.031)- 132.86 PRICE OF STOCK TODAY PRESENT VALUE OF (D4 +P4)-(10.83 + 132.86) X PVIF @ 11.5% FOR 4 YEARS PRESENT VALUE OF (D4 +P4) (10.83132.86) X (1/(1+0.115)A4) PRESENT VALUE OF (D4 +P4) 92.97 ANSWER SHARE PRICE TODAY 92.97 beta bond c M port future INDEX INTL CAP BUD SING FV, ANNUITY DIR cleanYIELD bond stru WACC ex div DN11 erences: BD109 130% 06:18 27-09-2018

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