Question
Company spends $3.18 billion on share repurchases last year.If the companies cost of capital is 7.8%, and the amount the company continues spend is expected
Company spends $3.18 billion on share repurchases last year.If the companies cost of capital is 7.8%, and the amount the company continues spend is expected to grow 6.4% per year.The company has 467 million shares outstanding.
1)The companies market capitalization is $______ billion (round two decimal places)
2)The stock price per share if $______( round to the nearest cent)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Focus On Personal Finance
Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart
5th Edition
0077861744, 978-0077861742
