A firm has a market value equal to its book value. Currently, the firm has excess cash of $1,000. Equity is worth $18,000. The firm has 700 shares of stock outstanding and net income of $1,200. What will the new earnings per share be if the firm uses its excess cash to complete a stock repurchase? (Pick the closest answer) A. $1.20 B. $1.50 C. $1.82 D. $2.00 E. $2.40