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Levy Corp. is an unlevered firm worth $507,000 (market value). There are 14,000 shares of stock outstanding. Suppose the company has announced that it is

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Levy Corp. is an unlevered firm worth $507,000 (market value). There are 14,000 shares of stock outstanding. Suppose the company has announced that it is going to repurchase 522,400 worth of stock. If the stock market is efficient which of the following is correct? A. The stock price would not react to the repurchase upon the repurchase is announced OD. The stock price would not react to the repurchase upon the repurchase is complete. OC. The stock price can tact to the repurchase any time between announcement and implementation, OD.Unknown because the amount of repurchased shares is not provided

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