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Stock Repurchase Plan. Your company has 100 million shares of stock outstanding and its stock price is $20 per share. If the company uses this

Stock Repurchase Plan.

Your company has 100 million shares of stock outstanding and its stock price is $20 per share. If the company uses this year 's earnings to buy back 10 million shares, what will the price of the stock rise to, assumimg the total equity remains unchanged?

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