The balance sheet for Quinn Corporation is shown here in market value terms. There are $27,000$ shares of stock outstanding.

References

The compay has announced it is going to repurchase $$24,300$ worth of stock instead of paying a dividend of $$\mathrm{.}90.$

a$.$ What effect will this transaction have on the equity of the firm?

Note: Input the answer as positive value. Do not round intermediate calculations and round your answer to the

nearest whole number, e$.$g$.,32.$

b$.$ How many shares will be outstanding after the repurchase?

Note: Do not round intermediate calculations and round your answer to the nearest whole number, e$.$g$.,32.$

c$.$ What will the price per share be after the repurchase?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$The balance sheet for Quinn Corporation is shown here in market value terms. There are $27,000$ shares of stock outstanding.

Market Value Balance Sheet

Cash $ $110,000$

Fixed assets $519,100$ Equity $ $629,100$

Total $ $629,100$ Total $ $629,100$

The compay has announced it is going to repurchase $$24,300$ worth of stock instead of paying a dividend of $$\mathrm{.}90.$

What effect will this transaction have on the equity of the firm?

Note: Input the answer as positive value. Do not round intermediate calculations and round your answer to the nearest whole number, e$.$g$.,32.$

How many shares will be outstanding after the repurchase?

Note: Do not round intermediate calculations and round your answer to the nearest whole number, e$.$g$.,32.$

What will the price per share be after the repurchase?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$