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Q 2 . In Q 1 , suppose the company gives up the cash dividend plan because of shareholder opposition. Instead, the company decides to

2 .

In Q

1,

suppose the company gives up the cash dividend plan because of shareholder opposition.

Instead, the company decides to buyback $

23, 800

worth of stock.

[3

marks

]

)

How many shares will be repurchased?

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