Alphabet (GOOGL) has yet to pay a dividend, but in spring 2018 it announced it would repurchase

$ 8.5

billion worth of shares over the year. (Actually, the exact amount was

$ 8 comma 589 comma 869 comma 056

long dash

known

as a "perfect" number because it is equal to the sum of its divisors). If the amount spent on share repurchases were expected to grow by

7 %

per year, and Alphabet's equity cost of capital is

8.4 %

,

estimate Alphabet's market capitalization. If Alphabet has

683

million shares outstanding, what stock price does this correspond to?

The share price is

$nothing

.

(Round to the nearest cent.)