The balance sheet for Kare Corp. is shown here in market value terms. There are 10,000 shares of stock outstanding.

Market Value Balance Sheet
Cash	$	45,300		Equity	$	515,300
Fixed assets		470,000
Total	$	515,300		Total	$	515,300
Instead of a dividend of $1.60 per share, the company has announced a share repurchase of $16,000 worth of stock.

a.

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.)

b.

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.)

a.	Shares outstanding
b.	New stock price