Question
The equity section of a firms market value balance sheet has common stock of $51,000 (par value $1); capital surplus of $218,300; and retained earnings
The equity section of a firms market value balance sheet has common stock of $51,000 (par value $1); capital surplus of $218,300; and retained earnings of $329,700. The firms stock sells for $41 a share. If the firm repurchases $35,000 of stock, what will be the new market value of the firms total equity?
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Finance For Nonfinancial Managers
Authors: Gene Siciliano
2nd Edition
0071824367, 978-0071824361
