Question
The balance sheet for Fourth Corp. is shown here in market value terms. There are 5,000 shares of stock outstanding. Market Value Balance Sheet Cash
The balance sheet for Fourth Corp. is shown here in market value terms. There are 5,000 shares of stock outstanding. Market Value Balance Sheet Cash $ 44,700 Equity $ 454,700 Fixed assets 410,000 Total $ 454,700 Total $ 454,700 Instead of a dividend of $1.60 per share, the company has announced a share repurchase of $8,000 worth of stock. How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) What will the price per share be after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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