Blasco's has a market value equal to its book value. Currently, the firm has excess cash of 1,332, other assets of 11,674, and equity of 7,200. The firm has 1200 shares outstanding and net income of 838. Blasco's has decided to spend one-third of its excess cash on a share repurchase program. How many shares will be outstanding after the share repurchase is completed? Show your steps. ON EXCEL PLEASE UPLOAD THE FILE

Q2

Jefferson Refining is issuing a rights offering wherein every shareholder will receive one right for each share of equity they own. The new shares in this offering are priced at 21 plus 3 rights. The current market value of the equity is 75 million with 3 milion shares outstanding. What is the value of one right? Show your steps. PLEASE UPLOAD EXCEL FILE