How many shares will remain after the repurchase

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A firm has 5 million shares outstanding with a market price of $30 per share. The firm has $30 million in extra cash (short-term investments) that it plans to use in a stock repurchase, the firm has no other financial investments or any debt. What is the firm's value of operations after the repurchase? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, and not 1,200,000. Round your answer to two decimal places.

How many shares will remain after the repurchase? Round your answer to the nearest whole number.

Reference no: EM131342596

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