The balance sheet for Pumpkin Pie Corp. is shown here in market value terms. There...
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Accounting
The balance sheet for Pumpkin Pie Corp. is shown here in market value terms. There are 5 million shares of stock outstanding.
Market Value Balance Sheet
Cash $16 million Equity $175 million
Fixed Assets $159 million
Total Assets $175 million Total $175 million
The company has announced that it is going to repurchase $4.35 million worth of stock. What will the price of the stock be after this repurchase? Ignore any tax effects.
Group of answer choices
$35.00
$36.19
$39.21
$42.50
Answer & Explanation
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