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Kelly Ltd has assets with a market value of $600 million, $45 million of which are cash. it has debt of $300 million, and 20
Kelly Ltd has assets with a market value of $600 million, $45 million of which are cash. it has debt of $300 million, and 20 million shares outstanding. Assuming perfect capital markets, if Kelly Ltd distributes $45 million as a share repurchase, what will the share price be once the shares are repurchased? Round your response to the nearest dollar.
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