Problem $10-08$

that it will use $$300$ million to repurchase shares.

a$.$ After the repurchase, what is the value of the stock, according to your model? Do not round intermediate calculations. Round your answer to the nearest cent.

$

b$.$ After the repurchase, what is the actual price$-$earnings multiple of the stock? Do not round intermediate calculations. Round your answer to two decimal places.

calculations. Round your answer to the nearest cent.

The market value of the stock is now $

calculations. Round your answer to two decimal places.