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A company has a market value equal to its book value. Currently, the company has excess cash of $370,000 and other assets of $4,730,000. Equity

A company has a market value equal to its book value. Currently, the company has excess cash of $370,000 and other assets of $4,730,000. Equity is worth $2,680,000. The firm has 52,000 shares of stock outstanding and net income of $460,000. What will the new earnings per share be if the company uses its excess cash to complete a stock repurchase?

$7.70

$8.34

$8.98

$9.62

$10.26

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