A firm is 100% equity financed and has a market value equal to its book...
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Finance
A firm is 100% equity financed and has a market value equal to its book value. Currently, the firm has excess cash of $505 and other assets of $9,486. The firm has 415 shares of stock outstanding and net income of $1,400.
Ignoring taxes, what will the stock price per share be if the firm pays out its excess cash as a cash dividend? (Round answer to 2 decimals, do not remember intermediate calculations)
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