Question
A company has earnings of $15,000,000. It has 2,150,000 shares outstanding and has excess cash on hand of $5,500,000 that can be used to repurchase
A company has earnings of $15,000,000. It has 2,150,000 shares outstanding and has excess cash on hand of $5,500,000 that can be used to repurchase shares. The stock is currently trading at $50 a share. What is the EPS after the repurchase?
| A. | $6.56 | |
| B. | $6.98 | |
| C. | $7.35 | |
| D. | $5.56 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Managing Finance A Socially Responsible Approach
Authors: D. Crowther
1st Edition
0750661011, 978-0750661010
