The balance sheet for XYZ Corp. is shown below in market value terms. There are 15,000 shares of stock outstanding.

Market Value Balance Sheet

Cash 73,000 Equity 418,000

Fixed Assets 345,000

Total 418,000. Total 418,000

The company has declared a dividend of $2.35 per share. The stock goes ex dividend tomorrow. A) Ignoring any tax effects, what is the stock selling for today? B) What will it sell for tomorrow? C) What will the balance sheet look like after the dividends are paid?

Suppose XYZ Corp. announces it is going to repurchase $23,130 worth of stock. D) What effect will this transaction have on the equity of the company? E) How many shares will be outstanding? F) What will the price per share be after the repurchase?