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The balance sheet for Sinking Ship Corp. is shown here in market value terms. There are 14,000 shares of stock outstanding. Cash Market Value Balance

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The balance sheet for Sinking Ship Corp. is shown here in market value terms. There are 14,000 shares of stock outstanding. Cash Market Value Balance Sheet 438,700 $ 53,700 Equity 385,000 $ Fixed assets 438,700 Total $ Total $438,700 Instead of a dividend of $1.30 per share, the company has announced a share repurchase of $18,200 worth of stock. 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.) Shares outstanding 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.) New stock price

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