A firm has a market value equal to its book value. Currently, the firm has excess cash of $1.200 and other assets of $7,800. Equity is worth $9,000. The firm has 600 shares of stock outstanding and net income of $760. What will the new earnings per share be if the firm uses its excess cash to complete a stock repurchase? Multiple Choice $3.22 $1.27 $126 $1.46 52.31