The balance sheet for Kare Corp. is shown here in market value terms. There are 10,000 shares
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Question:
The balance sheet for Kare 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. |
a. | 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.) |
b. | 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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