Question: The balance sheet for Fourth Corp. is shown here in market value terms. There are 5,000 shares of stock outstanding. Cash Fixed assets Market Value

The balance sheet for Fourth Corp. is shown here in market value terms. There are 5,000 shares of stock outstanding. Cash Fixed assets Market Value Balance Sheet $ 45,100 Equity $495,100 450,000 Total $ 495,100 Total $495,100 Instead of a dividend of $1.40 per share, the company has announced a share repurchase of $7,000 worth of stock. How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) What will the price per share be after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Shares outstanding New stock price
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