Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Blasco's has a market value equal to its book value. Currently, the firm has excess cash of $1,334, other assets of $11,661, and equity of
Blasco's has a market value equal to its book value. Currently, the firm has excess cash of $1,334, other assets of $11,661, and equity of $10,465. The firm has 1,820 shares of stock outstanding and net income of $916. Blasco's has decided to spend 1/2 of its excess cash on a share repurchase program. How many shares of stock will be outstanding after the stock repurchase is completed?
shares outstanding
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started