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4. A company has 250,000 shares of no-par stock outstanding and a total market capitalization of $2,750,000. The company decides to use its excess cash

4. A company has 250,000 shares of no-par stock outstanding and a total market capitalization of $2,750,000. The company decides to use its excess cash to repurchase 25,000 shares of stock.

a. Record the JE for the share repurchase:

b. Assume all 250,000 shares were initially issued at a price of $6. Calculate contributed capital after the share repurchase:

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