What will price per share be after the repurchase

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Reference no: EM131554880

The balance sheet for Ferguson Corp. is shown here in market value terms. There are 6,000 shares of stock outstanding.

Market Value Balance Sheet

Cash $ 44,900

Equity $ 474,900

Fixed assets 430,000

Instead of a dividend of $1.80 per share, the company has announced a share repurchase of $10,800 worth of stock.

How many shares will be outstanding after the repurchase? (Do not round intermediate calculations. Round your final answer to 2 decimal places, e.g., 32.16.)

Shares outstanding

What will the price per share be after the repurchase? (Do not round intermediate calculations. Round your final answer to 2 decimal places, e.g., 32.16.)

New stock price $

Reference no: EM131554880

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