The market value of Scorpion Corporation equals its book value. Currently, the firm has excess cash of $1,100 and other assets of $12,400. Equity is worth $13,500. The firm has 2,500 shares of stock outstanding and a net income of $10,800. What will be the new earnings per share if the firm uses its excess cash to complete a stock repurchase? Tom Fong Music Inc., has an outstanding bond callable at $1,340. The total value of the bond is $100 million. The company is considering issuing a new bond and using the proceeds to buy back the existing bond. The transaction cost of such refunding is $23,430,000. Suppose the tax rate is 30%. The total after-tax cost of refunding is approximately Al Logistics has 15,000 shares of stock outstanding with a market value per share of $8. The firm just announced a stock dividend of 10 percent. What will be the market price per share after the dividend?