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Bo's Home Manufacturing has 290,000 shares outstanding that sell for $44.10 per share. The company has...

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Finance

Bo's Home Manufacturing has 290,000 shares outstanding that sellfor $44.10 per share. The company has announced that it willrepurchase $49,000 of its stock. What will the share price be afterthe repurchase?

Answer & Explanation Solved by verified expert
3.8 Ratings (294 Votes)

Share price after repurchase = Market value after repurchase/Number of shares after repurchase
= $ 1,27,40,000 / 2,88,889
= $             44.10
Working:
# 1 Market value before repurchase 290000*44.10 = $       1,27,89,000
Less Shares repurchased $                 49,000
Market value after repurchase $       1,27,40,000
# 2 Number of shares before repurchased                  2,90,000
Less number of shares repurchased 49000/44.10 =                        1,111
Number of shares after repurchased                  2,88,889

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Bo's Home Manufacturing has 290,000 shares outstanding that sellfor $44.10 per share. The company has announced that it willrepurchase $49,000 of its stock. What will the share price be afterthe repurchase?

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