Problembeta industries has net income of 1500000 and it has, Ask an Expert

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Beta Industries has net income of $1,500,000, and it has 1,645,000 shares of common stock outstanding. The company's stock currently trades at $31 a share. Beta is considering a plan in which it will use available cash to repurchase 10% of its shares in the open market. The repurchase is expected to have no effect on net income or the company's P/E ratio.

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Question: What will be its stock price following the stock repurchase?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91168231

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