Petroxy Manufacturing Inc. expects to earn $4,200,000 this year. The company currently has 830,000 shares outstanding, and the shares have a per-share market price of $21. Assuming that Petroxy's price-to-earnings (P/E) ratio remains constant and its earnings are unaffected by a share repurchase transaction, then the company's expected market price per shareif it repurchases 75,000 shares at the current market priceshould be?

Answer rating: 100% (QA)

if Petroxy Manufacturing Inc repurchases 75000 shares at the current market price the expected marke... View the full answer