The balance sheet for Throwing Copper, Inc., is shown here in market value terms. There are 29,000 shares of stock outstanding.

Market Value Balance Sheet
Cash	$	130,000
Fixed assets		529,750		Equity	$	659,750
Total	$	659,750		Total	$	659,750

The compay has announced it is going to repurchase $20,300 worth of stock instead of paying a dividend of $.70. What effect will this transaction have on the equity of the firm? (Input the answer as positive value. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Will (Click to select) increase reduce shareholders equity by $ How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) New shares outstanding ________?