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A firm has a market value equal to its book value. Currently, the firm has excess cash of $600, other assets of $3,400, and equity of $4,000. The firm has 400 shares of stock outstanding and net income of $900. The firm has decided to spend half of its excess cash on a share repurchase program. How many shares of stock will be outstanding after the stock repurchase is completed? 350 shares 330 shares 390 shares 410 shares 370 shares.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92740945

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