10: Cash dividend versus share repurchase Idlewild Motels currently has 75,000 shares of common stock outstanding and a price-earnings ratio of 18. The firm is considering spending $225,000 to pay a one-time dividend. The forecasted annual earnings after the dividend is $375,000. What is the expected market value per share after the dividend? If the firm decides to spend the $225,000 on a share repurchase program rather than pay dividends, the firm will repurchase how many shares? What is the expected market value per share after the repurchase