Question: The balance sheet for Fourth Corp. is shown here in market value terms. There are 8,000 shares of stock outstanding. Market Value Balance Sheet 545,600
The balance sheet for Fourth Corp. is shown here in market value terms. There are 8,000 shares of stock outstanding. Market Value Balance Sheet 545,600 Cash $45,600 Equity 4 Fixed assets 500,000 Total $545,600 Total $545,600 Instead of a dividend of $1.90 per share, the company has announced a share repurchase of $15,200 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 17,200.00
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