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CASE 4: MTC Co has a market value equal to its book value. Currently, the firm has excess cash of eight hundred pesos and other

CASE 4: MTC Co has a market value equal to its book value. Currently, the firm has excess cash

of eight hundred pesos and other assets of five thousand two hundred pesos. Equity is worth

P6,000. The firm has six hundred shares of stock outstanding and net income of P700. The firm

has decided to spend all of its excess cash on a share repurchase program. How many shares of

stock will be outstanding after the stock repurchase is completed?

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