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dle Corporation has been acquiring shares of Fast Track Enterprises at book value for the last several years. Fast Track provided data including the following:

dle Corporation has been acquiring shares of Fast Track Enterprises at book value for the last several years. Fast Track provided data including the following:
20X220X320X420X5
Net Income $ 40,000 $ 60,000 $ 40,000 $ 50,000
Dividends 20,00020,00010,00020,000
Fast Track declares and pays its annual dividend on November 15 each year. Its net book value on January 1,20X2, was $250,000. Idle purchased shares of Fast Track on three occasions:

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