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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

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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

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