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Suppose Contrail Air, Inc. is going to repurchase $22,800 shares of stock. The market value Balance Sheet is provided below. Repurchase $22,800 Shares outstanding 12,000
Suppose Contrail Air, Inc. is going to repurchase $22,800 shares of stock. The market value Balance Sheet is provided below.
| Repurchase | $22,800 |
| Shares outstanding | 12,000 |
| Dividend per share | $1.20 |
Market Value Balance Sheet
| Cash | $55,000 | Equity | $465,000 | |
| Fixed assets | $410,000 | |||
| Total | $465,000 | Total | $465,000 |
What will the price per share be after the repurchase?
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Glencoe Accounting Real World Applications And Connections Advanced Course Audit Tests
Authors: McGraw-Hill
5th Edition
0078462002, 978-0078462009
