Spend all of excess cash on share repurchase program

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Reference no: EM13941250

A firm has a market value equal to its book value. Currently, the firm has excess cash of $2,000 and other assets of $4,800. Equity is worth $6,800. The firm has 850 shares of stock outstanding and net income of $1,050. The firm has decided to spend all of its excess cash on a share repurchase program. How many shares of stock will be outstanding after the stock repurchase is completed?

Reference no: EM13941250

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