Question: Suppose Compco Systems pays no dividends but spent $4.88 billion on share repurchases last year. If Compco's equity cost of capital is 11.1%, and if

Suppose Compco Systems pays no dividends but spent $4.88 billion on

Suppose Compco Systems pays no dividends but spent $4.88 billion on share repurchases last year. If Compco's equity cost of capital is 11.1%, and if the amount spent on repurchases is expected to grow by 8.9% per year, estimate Compco's market capitalisation. If Compco has 6.4 billion shares outstanding, to what share price does this correspond? Compco's market capitalisation will be s billion. (Round to two decimal places.) Compco's share price will be $). (Round to the nearest cent.)

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