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A firm has 30 million shares outstanding with a market price of $40 per share. The firm has $20 million in extra cash (short-term investments)
A firm has 30 million shares outstanding with a market price of $40 per share. The
firm has $20 million in extra cash (short-term investments) that it plans to use in a stock
repurchase; the firm has no other financial investments or any debt. How many shares will
remain after the repurchase?
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Public Finance
Authors: Harvey S Rosen
7th Edition
0072876484, 978-0072876482
