What will be the number of shares outstanding

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Question - Company X has 1,000 shares outstanding, and the required rate of return is 10%. The company earns a constant $10,000 per year and announces that it will use all $10,000 to repurchase its shares in the open market instead of paying dividends. What will be the number of shares outstanding at the end of year 1, after the first share repurchase?

A) 1,100

B) 1,000

C) 909

D) 890

Reference no: EM132206444

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