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TJ has a market value equal to its book value. Currently the firm have excess cash of 2 1 8 , 5 0 0 other

TJ has a market value equal to its book value. Currently the firm have excess cash of 218,500 other asset of 97,309 and equity of 547,200. The firm has 40,000 share of stock outing and net income of $59,800. Management has decided to spend 50% of Excess cash On a share repurchase program. How much share of stock will be outstanding after the stock repurchase is complete.

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