Firm pays out its excess cash as a cash dividend

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A firm has a market value equal to its book value. Currently, the firm has excess cash of $7,700 and other assets of $27,300. Equity is worth $35,000. The firm has 700 shares of stock outstanding and net income of $3,500. What will the stock price per share be if the firm pays out its excess cash as a cash dividend?

Reference no: EM13941253

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