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ABC Stores is an all-equity firm with 3,939 shares outstanding. The price of each share is $318. The firm is issuing $54,497 of debt and
ABC Stores is an all-equity firm with 3,939 shares outstanding. The price of each share is $318. The firm is issuing $54,497 of debt and using the proceeds to reduce the number of outstanding shares. How many shares of stock will be outstanding once the debt is issued? Assume no taxes. Enter your answer rounded off to two decimal points.
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