1. Suppose a corporation currently has $10,000 USDs in excess cash available to repurchase stock or pay dividends on its 66,000 shares. Suppose the corporation decides to use the $10,000 USDs to repurchase shares on the open market. If the current stock price is $10, what will be the price of the stock after the repurchase?

2. Company ZZZ is an all-equity firm with 1,000,000 shares outstanding. Company ZZZ currently has a cash flow of $10,000,000 USDs and expects future free cash flows of $10,000,000 per year. Management plans to use the cash to expand the firm's operations, which will in turn increase future cash free cash flows to $30,000,000 per year. If the cost of capital of Company ZZZ's investments is 4%, calculate the stock price for the company if the expansion where to happen.

3. Company ZZZ is an all-equity firm with 1,000,000 shares outstanding. Company ZZZ currently has a cash flow of $10,000,000 USDs and expects future free cash flows of $10,000,000 per year. Management plans to use the cash to expand the firm's operations, which will in turn increase future cash free cash flows to $30,000,000 per year. If the cost of capital of Company ZZZ's investments is 4%, calculate the stock price if the company decides to use the cash for a share repurchase rather than the expansion.