Company x has 100 shares outstanding it earns 1000 per year

Reference no: EM13621159

Company X has 100 shares outstanding. It earns $1,000 per year and announces that it will use all $1,000 to repurchase its shares in the open market instead of paying dividends. Calculate the number of shares outstanding at the end of year 1, after the first share repurchase, if the required rate of return is 10%.

Reference no: EM13621159

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