Question: The balance sheet for Fourth Corp. is shown here in market value terms. There are 6,000 shares of stock outstanding. Market Value Balance Sheet Cash

The balance sheet for Fourth Corp. is shown here in market value terms. There are 6,000 shares of stock outstanding.

Market Value Balance Sheet

Cash

44,900

Equity

474,900

Fixed assets

430,000

Total

474,900

Total

474,900

Instead of a dividend of $1.80 per share, the company has announced a share repurchase of $10,800 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.)

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