Corporate FInace Assignment/ Professional Essay Writers
A firm has a market value equal to its book value. Currently, the firm has excess cash of $3,400 and other assets of $6,100. Equity is worth $9,500. The firm has 950 shares of stock outstanding and net income of $1,700. 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?