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The balance sheet for Sinking Ship Corp. is shown here in market value terms. There are 10,000 shares of stock outstanding Market Value Balance Sheet

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The balance sheet for Sinking Ship Corp. is shown here in market value terms. There are 10,000 shares of stock outstanding Market Value Balance Sheet 555,700 Cash $45,700 Equity Fixed assets 510,000 Total $ 555,700 Total $ 555,700 Instead of a dividend of $1.80 per share, the company has announced a share repurchase of $18,000 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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