A company has 12.5 million outstanding shares with a current market price of share 25. The company has surplus cash of 75 million. To distribute this surplus cash, the company announces repurchase of shares worth 75 million at a market price of 25. Assume that the company is able to purchase all the shares at a market price of 25. Post share repurchase, the market price shall be closest to

a) 19

b) 25

c) 31