Suppose Cisco Systems pays no dividends but spent $4.96 billion on share repurchases last year. If Cisco's equity cost of capital is 12.7%, and if the amount spent on repurchases is expected to grow by 7.9% per year, estimate Cisco's market capitalization. If Cisco has 5.45 billion shares outstanding, to what stock price does this correspond?

a) Ciscos stock price will be $__?

b) Ciscos market captilization will be $___ billion