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Stock Repurchase
Gadget Manufacturing expects to earn 5,300,000 this year. The company currently has 790,000 shares outstanding and the shares have a per-share market price of 21 dollars. Assuming the PE ratio remains constant and its earnings are unaffected by a share repurchase transaction, then the company's expected market price per share if it repurchases 90,000 shares at the current market price should be:
A) 23.69
B) 28.43
C) 24.87
D) 27.24
Which of these factors are considered an advantage of a stock repurchase? Check all that apply and are true advantages
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