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A firm has a market value equal to its book value. Currently, the firm has excess cash of $800 and 13 other assets of $4,000.

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A firm has a market value equal to its book value. Currently, the firm has excess cash of $800 and 13 other assets of $4,000. Equity is worth $4,800. The firm has 600 shares of stock outstanding and net income of $700. The firm has decided to spend all of its excess cash on a share repurchase ?program. How many shares of stock will be outstanding after the stock repurchase is completed (2 ) shares 480 O shares 500 O shares 550 O shares 600 O

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