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A firm has a market value equal to its book value. Currently, the firm has excess cash of $2,750 and other assets of $4,400. Equity

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A firm has a market value equal to its book value. Currently, the firm has excess cash of $2,750 and other assets of $4,400. Equity is worth $7,150. The firm has 650 shares of stock outstanding and net income of $850. 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? Multiple Choice 161 shares 411 shares 661 shares 422 shares 400 shares

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