- 19 A firm has a market value equal to its book value, excess cash of $1,000, and equity worth $17,800. The firm has 5,000 shares of stock outstanding and net income of $31,200. What will the new earnings per share be if the firm uses its excess cash to complete a stock repurchase? out of -14 Select one or more: $5.89 Excess - 1000 Equity = 17,800 Shanes - 3000 NY = 3,200. weight Aug Comorom Outstalling Shanes b. $6.23 2 Mercome - Pretend we ENS c. $6.50 31200 - 5000. $6.61 The correct answer is: $6.61