The balance sheet for Pie Crust, Inc., is shown here in market value terms. There are 28,000 shares of stock outstanding.

Market Value Balance Sheet

Cash	$176,000
Fixed assets	557,040		Equity	$733,040
Total	$733,040		Total	$733,040

In lieu of a dividend of $1.60, the company has announced it is going to repurchase $44,800 worth of stock instead of paying a dividend.

Requirement 1:

What effect will this transaction have on the equity of the firm? (Do not round intermediate calculations.Input the amount as positive value.)

Will (Click to select)reduceincrease shareholders equity by $

Requirement 2:

How many shares will be outstanding after the repurchase? (Do not round intermediate calculations.Round your answer to the nearest whole number (e.g., 32).)

New shares outstanding

Requirement 3:

What will the price per share be after the repurchase? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Share price

$

Requirement 4:

Is the share repurchase effectively the same as a cash dividend?

(Click to select)YesNo