The balance sheet for Throwing Copper, Inc., is shown here in market value terms. There are 27,000 shares of stock outstanding.
Market Value Balance Sheet: Cash$110,000 Fixed assets 519,100 Equity$629,100 Total $629,100 Total $629,100
The company has announced it is going to repurchase $24,300 worth of stock instead of paying a dividend of $.90.
What effect will this transaction have on the equity of the firm? (Input the answer as positive value. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Will (Click to select)
shareholders’ equity by $
How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
New 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.)
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