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Suppose Amazon.com Inc. pays no dividends but spent $ 3.19 billion on share repurchases last year. If Amazon's equity cost of capital is 8.1 %,
Suppose Amazon.com Inc. pays no dividends but spent $ 3.19 billion on share repurchases last year. If Amazon's equity cost of capital is 8.1 %, and if the amount spent on repurchases is expected to grow by 6.2 % per year, estimate Amazon's market capitalization. If Amazon has 430 million shares outstanding, what stock price does this correspond to? Estimate Amazon's market capitalization. Amazon's market capitalization is $ nothing billion. (Round to two decimal places.)
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