Question
Beets Inc had 10m shares outstanding that were trading at $5. In 2020 it received a profit that was $4m higher than expected. It announced
Beets Inc had 10m shares outstanding that were trading at $5. In 2020 it received a profit that was $4m higher than expected. It announced that it will use $2.19m to buy back shares. How many shares would be left in circulation after the repurchase program is complete? [enter your answer in M of shares, with 2 decimal places precision]
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International Financial Management
Authors: Cheol S. Eun, Bruce G.Resnick
6th Edition
71316973, 978-0071316972, 78034655, 978-0078034657
