Suppose Cisco Systems pays no dividends but spent $4.96 billion on share repurchases last year. If Cisco's equity cost of capital is 12.8%, and if the amount spent on repurchases is expected to grow by 8.6% per year, estimate Cisco's market capitalization. If Cisco has 5.4 billion shares outstanding, to what stock price does this correspond? Cisco's market capitalization will be $ billion. (Round to two decimal places.)