Please use excel and show the formula so I can better understand. The price of a tradable security, like a stock or a bond, is equal to the PV of its cash flows. Given that, what is the theoretical NPV of a stock or bond purchase? According to the case study, Midland Energy Corp occasionally buys back its own stock. Using the concept of the Additivity Principle, explain how a stock buyback would affect the enterprise value of Midland Energy. For what reason(s) does a company repurchase its own shares?