Business, 05.05.2020 05:09 prestontu8883

A firm has a market value equal to its book value. Currently, the firm has excess cash of $1,400 and other assets of $4,600. Equity is worth $6,000. The firm has 750 shares of stock outstanding and net income of $950. The firm has decided to spend all of its excess cash on a share repurchase program. How many shares of stock will be outstanding after the stock repurchase is completed?

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A firm has a market value equal to its book value. Currently, the firm has excess cash of $1,400 and...