Outstanding after stock repurchase is completed

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A firm has a market value equal to its book value. Currently, the firm has excess cash of $1,360 and other assets of $6,640. Equity is worth $8,000. The firm has 500 shares of stock outstanding. The firm has decided to spend all of its excess cash on a share repurchase program. How many shares of stock will be outstanding after the stock repurchase is completed?

Reference no: EM131919968

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