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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. Instead of a dividend of
The balance sheet for Quinn Corporation is shown here in market value terms. There are 10,000 shares of stock outstanding. 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.)
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