What will be betas stock price the stock repurchase

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Beta Industries has net income of $2,000,000, and it has 1,000,000 shares of common stock outstanding. The company's stock currently trades at $32 a share. Beta is considering a plan in which it will use available cash to repurchase 20% of its shares in the open market. The repurchase is expected to have no effect on net income of the company's P/E ration. What will be Beta's stock price following the stock repurchase?

Reference no: EM13932838

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