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ABC Ltd has 2,000,000 ordinary shares outstanding that are currently trading at a market price of $9.95 per share. It has earnings available to ordinary
ABC Ltd has 2,000,000 ordinary shares outstanding that are currently trading at a market price of $9.95 per share. It has earnings available to ordinary shareholders of $2555209. The firm is planning to use $1582749 of its earnings to repurchase some of its shares in the market at a price of $10.00 per share. By how much will earnings per share increase as a result of the repurchase? Please round your answer to the nearest 1/10th of one cent but exclude the $ sign when typing your answer (e.g. $0.0438 should be answered as 0.044)
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