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A firm has a market value equal to its book value. Currently, the firm has excess cash of $300 and other assets of $6, 200.

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A firm has a market value equal to its book value. Currently, the firm has excess cash of $300 and other assets of $6, 200. Equity is worth $5,000. The firm has 500 shares of stock outstanding and net income of $720. What will the new earnings per share be if the firm uses its excess cash to complete stock repurchase

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