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The balance sheet for Levy Corp. is shown here in market value terms.

There are 10,000 shares of stock outstanding.

Market Value Balance Sheet

Cash $ 45,400

Fixed assets 480,000

Total $ 525,400

Instead of a dividend of $1.70 per share, the company has announced a share repurchase of $17,000 worth of stock.

How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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.)      

New stock price $

Financial Management, Finance

  • Category:- Financial Management
  • Reference No.:- M92739310

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