Use the following information to answer the question(s) below.
Taggart Transcontinental pays no dividends,but spent $4 billion on share repurchases last year.Taggart's equity cost of capital is 13% and the amount spent on repurchases is expected to grow by 5% per year.Taggart currently has 2 billion shares outstanding.
-Taggart's market capitalization is closest to:
A) $25 billion.
B) $31 billion.
C) $40 billion.
D) $50 billion.
Correct Answer:
Verified
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