Question: Tech Pool has a market value equal to its book value. Currently, the firm has excess cash of $52,400, other assets of $384,650, and equity

Tech Pool has a market value equal to its book value.

Tech Pool has a market value equal to its book value. Currently, the firm has excess cash of $52,400, other assets of $384,650, and equity of $868,320. The firm has 27,000 shares of stock outstanding and net income of $86,350. Management has decided to spend 65 percent of the excess cash on a share repurchase program. How many shares of stock will be outstanding after the stock repurchase is completed? 25,941 25,885 26,275 26,109 26,430

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