Stock Repurchase

A firm has 10 million shares outstanding with a market price of $25 per share. The firm has $10 million in extra cash (short-term investments) that it plans to use in a stock repurchase; the firm has no other financial investments or any debt. What is the firm's value of operations after the repurchase? Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answer to the nearest whole number.

$ million

How many shares will remain after the repurchase? Round your answer to the nearest whole number.

shares