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Rainbow Concrete Companys earnings available to ordinary shareholders are R5 000 000 and the company has 200 000 ordinary shares in issue at R30 per

Rainbow Concrete Companys earnings available to ordinary shareholders are R5 000 000 and the company has 200 000 ordinary shares in issue at R30 per share. The firm plans to pay R3 per share in cash dividends. If the firm can repurchase the shares at R40 per share, how many shares can be purchased instead of proceeding with the cash dividend payment?

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