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A firm has a market value equal to its book value. Currently, the firm has excess cash of $9,000 and other assets of $28,000. Equity
A firm has a market value equal to its book value. Currently, the firm has excess cash of $9,000 and other assets of $28,000. Equity is worth $37,000. The firm has 800 shares of stock outstanding and net income of $3,200. What will the stock price per share be if the firm pays out its excess cash as a cash dividend?
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