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A firm has a market value equal to its book value. Currently, the firm has excess cash of $990 and other assets of $10,010. Equity

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A firm has a market value equal to its book value. Currently, the firm has excess cash of $990 and other assets of $10,010. Equity is worth $11,000. The firm has 500 shares of stock outstanding and net income of $2,250. The firm is going to use all of its excess cash to repurchase shares of stock. What will the stock price per share be after the stock repurchase is completed? $26 $24 $30 $22 $28

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