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Suppose Compco Systems pays no dividends but spent $ 5 . 0 1 billion on share repurchases last year. If Compco's equity cost of capital

Suppose Compco Systems pays no dividends but spent $ 5.01 billion on share repurchases last year. If Compco's equity cost of capital is 11.2%, and if the amount spent on repurchases is expected to grow by 7.3% per year, estimate Compco's market capitalisation. If Compco has 6.7 billion shares outstanding, to what share price does this correspond?

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