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Use the following information to answer the questions) below Taggart Transcontinental pays no dividends, but spent S4 billion on share repurchases last year. Taggart's equity

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Use the following information to answer the questions) below Taggart Transcontinental pays no dividends, but spent S4 billion on share repurchases last year. Taggart's equity cost of capital is 13% and if the amount spent on repurchases is expected to grow by 5% per year. Taggart currently has 2 billion shares outstanding. Taggart's stock price is closest to: $25.00 $12.50 $15.40 middot $20.00

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