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Afirm has excess cash of $600, other assets of $5,800, and equity is worth $6,400. The firm has 800 shares of stock outstanding and
Afirm has excess cash of $600, other assets of $5,800, and equity is worth $6,400. The firm has 800 shares of stock outstanding and net income of $1,550. 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? What will be the share price after the stock repurchase? 606.25; $8 75: $77.33 725; $8
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