Question: Blasco's has a market value equal to its book value. Currently, the firm has excess cash of $1,334, other assets of $11,661, and equity of

Blasco's has a market value equal to its book value. Currently, the firm has excess cash of $1,334, other assets of $11,661, and equity of $10,465. The firm has 1,820 shares of stock outstanding and net income of $916. Blasco's has decided to spend 1/2 of its excess cash on a share repurchase program. How many shares of stock will be outstanding after the stock repurchase is completed?

shares outstanding

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