9. Stock repurchases Companies with excess cash often employ share repurchase plans in place of or along with cash dividends. Share repurchase plans can help investors Tiquidate their holdings by selling their stock to the issuing compary and earning from copital gains. Consider the case of Petroxy Company: Note: Round your intermediate calculation to two decimal places: Petrexy Manufacturing Company expects to earn $5,100,000 this year, The company currently has 830,000 shares outstanding, and the shares have a per-share market price of $18. Assuming that Petraxy's price-to-earnings (P/E) ratio remains constant and its earnings are unaffected by a share repurchase transaction, then the company's expected market price per share-if it repurchases 90,000 shares at the current market price-should be Which of these factors are considered an advantage of a stock repurchase? Check al that apply. Fepurchases can be used to produce iarge-scale changes in capital structure. The price of the firm's stock might benefit more from cash dividends than from a repurchase. A repurchase can provide a positive signal to the market that the firm is expecting to achieve higher earnings in the future