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Suppose Compco Systems pays no dividends but spent $4.91 billion on share repurchases last year. If Compco's equity cost of capital is 11.5%, and if

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Suppose Compco Systems pays no dividends but spent $4.91 billion on share repurchases last year. If Compco's equity cost of capital is 11.5%, and if the amount spent on repurchases is expected to grow by 8.8% per year, estimate Compco's market capitalization. If Compco has 5.1 billion shares outstanding, to what stock price does this correspond? Compco's market capitalization will be $ billion. (Round to two decimal places.)

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