Question: The balance sheet for Levy Corp. is shown here in market value terms. There are 9,000 shares of stock outstanding. Market Value Balance Sheet Cash

The balance sheet for Levy Corp. is shown here in market value terms. There are 9,000 shares of stock outstanding.

Market Value Balance Sheet
Cash 44,600
Fixed assets 400,000 Equity 444,600
Total $ 444,600 Total $ 444,600

Instead of a dividend of $1.50 per share, the Levy has announced it will repurchase $13,500 worth of stock.

How many shares will be outstanding after the repurchase?

What will the price per share be after the repurchase?

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