The balance sheet for Imagine Corp. is shown here in market value terms. There are 3,000 shares of stock outstanding.

Market Value Balance SheetCash

$

36,000

Equity

$

179,000

Fixed assets

143,000

Total

$

179,000

Total

$

179,000

Topic: Repurchase of Stock

The company has declared a dividend of $1.94 per share. The stock will go ex-dividend tomorrow. Ignore taxes.

a) What is the stock selling for today?(Round answer to 2 decimal places. Do not round intermediate calculations)

b) What will the stock sell for tomorrow?(Round answer to 2 decimal places. Do not round intermediate calculations)

c) What will be the new value of cash after the dividend is paid?(Round answer to 0 decimal places. Do not round intermediate calculations)

d) What will be the new value of shareholders' equity after the dividend is paid?(Round answer to 0 decimal places. Do not round intermediate calculations)

Instead of a dividend, the company has announced it is going to repurchase $3,900 worth of stock.

e) What will be the new value of cash after the repurchase?(Round answer to 0 decimal places. Do not round intermediate calculations)

f) What will be the new value of shareholders' equity after the repurchase?(Round answer to 0 decimal places. Do not round intermediate calculations)

g) How many shares will be outstanding after the repurchase?(Round answer to 0 decimal places. Do not round intermediate calculations)

h) What will be the share price after the repurchase?(Round answer to 2 decimal places. Do not round intermediate calculations)