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Outstanding after the stock repurchase

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EZ Way has a market value equal to its book value. Currently, the firm has excess cash of $1,332, other assets of $11,674 and equity of $7,200. The firm has 1,200 shares outstanding and net income of $838.EZ Way has decided to spend one-third 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: EM132779714

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