Suppose Amazon.com Inc. pays no dividends but spent $2.92 billion on share repurchases last year. If Amazon's equity cost of capital is 7.7%, and if the amount spent on repurchases is expected to grow by 6.7% per year, estimate Amazon's market capitalization. If Amazon has 429 million shares outstanding, what stock price does this correspond to? Estimate Amazon's market capitalization. Amazon's market capitalization is $ billion. (Round to two decimal places.)