Question 1 –Share Repurchases in Perfect Capital MarketsABCCompany hasno debt anda market capitalization of $1.5 billion and 35million shares outstanding. It plans to distribute $65 million to its shareholders through an open market repurchase. Assume that markets are efficient and that there are no frictions(i.e. no taxes, no transaction costs, etc.).A)What will the price per share of ABCbe right before the repurchase?(Round to two decimals)B)How many shares will be repurchased?C)What will the price pershare of ABC be right after the repurchase?(Round to two decimals)