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

The balance sheet for Levy Corp. is shown here in market value terms. There are 5,000 shares of stock outstanding.

Market Value Balance Sheet Cash $ 44,800 Equity $ 464,800 Fixed assets 420,000 Total $ 464,800 Total $ 464,800

Instead of a dividend of $1.70 per share, the company has announced a share repurchase of $8,500 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.)

Shares outstanding

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.)

New stock price$

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