A firm has a market value equal to its book value. Currently, the firm has...
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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? Multiple Choice O 630 shares O 620 shares O 610 shares O o 630 shares o 620 shares o 610 shares o 960 shares o 280 shares
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