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A firm has a market value equal to its book value. Currently, the firm has excess cash of $525 and other assets of $9,200. Equity is worth $7,000. The firm has 1,000 shares of stock outstanding and net income of $420. 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?

940 shares

945 shares

925 shares

930 shares

935 shares

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91610995

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