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Book value of common stockholders equity of FedEx, May 3 1 , 2 0 2 0 ( figures in $ millions ) Common shares (

Book value of common stockholders equity of FedEx, May 31,2020(figures in $ millions)
Common shares ($0.10 par value per share) $ 31
Additional paid-in capital 3,098
Retained earnings 23,723
Treasury shares at cost (7,771)
Other (370)
Net common equity $ 18,711
Note:
Authorized shares (millions)
Issued shares, of which:
Outstanding shares 269
Treasury shares 41
Required:
Suppose that FedEx now issues 5 million shares at $150 a share. Update the table below with the new values.
What would happen to the book value of common stockholders equity if instead FedEx bought back 5 million shares at $150 per share?

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