Petrol expected stock price after the repurchase transaction

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Petrol Inc has a forecasted net income of $5,100,000 for this year. It's common stock currently trades for $18 per share, and the company currently has 910,000 shares common stock outstanding. As a result. Petrol 's management is considering making a share repurchase transaction in which it would buy back 80,000 shares of its outstanding shares in the open market by paying the current market share price. What is Petrol expected stock price after the repurchase transaction?

Reference no: EM131930689

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