Question: The balance sheet for Fourth Corp. is shown here in market value terms. There are 10,000 shares of stock outstanding. Market Value Balance Sheet: Cash
| The balance sheet for Fourth Corp. is shown here in market value terms. There are 10,000 shares of stock outstanding. Market Value Balance Sheet: |
| Cash | $44,200 | Equity | $404,200 |
| Fixed Assets | 360,000 | ||
| Total | $404,200 | Total | $404,200 |
| Instead of a dividend of $1.90 per share, the company has announced a share repurchase of $19,000 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.) |
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
