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currently, your company has excess cash outstanding of $700. Meanwhile, the total value of other assets is $9100. Because the company has no debt, the

currently, your company has excess cash outstanding of $700. Meanwhile, the total value of other assets is $9100. Because the company has no debt, the equity is worth $9800. You may assume that the company's market value equals its book value. If the number of shares outstanding is 700 and the net income is $750, what will the new earnings per share be if you use all the company's excess cash to buy back some of its stocks?

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