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The balance sheet for Quinn Corporation is shown here in market value terms. There are 5,000 shares of stock outstanding. Market Value Balance Sheet Cash

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The balance sheet for Quinn Corporation is shown here in market value terms. There are 5,000 shares of stock outstanding. Market Value Balance Sheet Cash $ 44,300 Equity Fixed assets 370,000 $ 414,300 Total $ 414,300 Total $ 414,300 Instead of a dividend of $2.00 per share, the company has announced a share repurchase of $10,000 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

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