Suppose Compco Systems pays no dividends but spent $ 5.19 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 8.5 % per year, estimate Compco's market capitalization. If Compco has 6.8 billion shares outstanding, to what stock price does this correspond?
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