Ferguson Corp.'s balance sheet is shown here in terms of market value. There are 8,000 shares outstanding.

Market Value Balance Sheet
in advance	$	44.400		Equality	$	424.400
fixed assets		380.000
Total	$	424.400		Total	$	424.400

Instead of a $1.20 per share dividend, the company announced it has repurchased $9,600 worth of shares.

How many shares will remain in circulation after the buyback? (Do not round up intermediate calculations. Round your final answer to 2 decimal places, eg 32.16.)

stock

What will be the price per share after the buyback? (Do not round up intermediate calculations. Round your final answer to 2 decimal places, eg 32.16.)

new stock price

$

Answer rating: 100% (QA)

To find the number of shares that will remain in circulation after the buyback we need to calculate ... View the full answer