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Memories Inc currently has 2 5 million shares outstanding with a current share price of $ 1 0 . 0 0 per share. Memories intends
Memories Inc currently has million shares outstanding with a current share price of $ per share. Memories intends to lower its corporate taxes by borrowing $ million and using the proceeds to repurchase shares. Suppose that Memories has a corporate tax rate of and shareholders expect the change in debt to be permanent. Assuming that capital markets are perfect except for the existence of corporate taxes, the number of shares outstanding after the share repurchase is Show work please.
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