Suppose Compco Systems pays no dividends but spent

$5.00

billion on share repurchases last year. If Compco's equity cost of capital is

12.0%,

and if the amount spent on repurchases is expected to grow by

8.0%

per year, estimate Compco's market capitalization. If Compco has

6.0

billion shares outstanding, to what stock price does this correspond?

Compco's market capitalization will be

$__________

billion.