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A firm has a market value equal to its book value. Currently, the firm has excess cash of $700 and other assets of $6,300. Equity

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A firm has a market value equal to its book value. Currently, the firm has excess cash of $700 and other assets of $6,300. Equity is worth $7,000. 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 25 percent of its excess cash to complete a stock repurchase? O 1.11 1.33 O 148 O 17 O 89

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