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The balance sheet for Quinn Corporation is shown here in market value terms. There are 10,000 shares of stock outstanding. Market Value Balance Sheet $
The balance sheet for Quinn Corporation is shown here in market value terms. There are 10,000 shares of stock outstanding. Market Value Balance Sheet $ 45,000 Equity 440,000 Cash Fixed assets $ 485,000 Total $ 485,000 Total $ 485,000 Instead of a dividend of $1.90 per share, the company has announced a share repurchase of $19,000 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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