Please, I need a detailed explanation

ABC Inc. is an all equity firm. It is operating in a perfect capital market. It has excess cash of $11,500,000. The company current stock price is $57.05. The company has 640,000 common shares outstanding. The company has decided to invest the excess cash of $11,500,000 in a new project. The project will generate an extra cash flow of $820,000 per year in perpetuity, starting one year from today. The required rate of return on the project is 10.3%. What will be the company's stock price after it undertakes the new project. Your answer should be accurate to two decimal places. Answer: (51.52) ABC Inc. has a total of $71,900,000. The $71,900,000 includes cash of $10,800,000. The company has 1,900,000 shares outstanding. If the company uses $7,050,000 of its cash to repurchase shares what will be the price per share after the repurchase is completed? Your answer should be accurate to two decimal places. Answer: (37.84)