Repurchase common shares

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Reference no: EM131158533

Assume that a firm had shareholders' equity on the balance sheet at a book value of $1,600 at the end of 2013. During 2014 the firm earns net income of $1,300, pays dividends to shareholders of $600, and uses $300 to repurchase common shares. The book value of shareholders equity at the end of 2014 is? (Show your work.)

Reference no: EM131158533

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