The balance sheet for Levy Corp. is shown here in market value terms. There are...
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Accounting
| The balance sheet for Levy Corp. is shown here in market value terms. There are 8,000 shares of stock outstanding. |
| Market Value Balance Sheet | ||||||
| Cash | $ | 45,600 | Equity | $ | 545,600 | |
| Fixed assets | 500,000 | |||||
| Total | $ | 545,600 | Total | $ | 545,600 | |
| Instead of a dividend of $1.90 per share, the company has announced a share repurchase of $15,200 worth of stock. |
| How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places. (e.g., 32.16)) |
| Shares outstanding |
| What will the price per share be after the repurchase? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| New stock price | $ |
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