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What will be the company earnings per share

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A company has 1 million shares outstanding and earnings are $2 million. The company decides to use $10 million in idle cash to repurchase shares in the open market. The company's shares are trading at $50 per share. If the company uses the entire $10 million of idle cash to repurchase shares at the market price, what will be the company's earnings per share?

Reference no: EM132204001

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