What percent does the stock price per share change

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A firm has a market value equal to its book value. Currently, the firm has excess cash of $2,000 and other assets of $13,000. Equity is worth $15,000. The firm has 1,000 shares of stock outstanding and net income of $2,500. By what percent does the stock price per share change if the firm pays out its excess cash as a cash dividend? (ignore taxes)

Reference no: EM13946857

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