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What will xyz share price be after it uses

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XYZ Corp. currently has $47 million in excess cash that it plans on returning to its shareholders through a share repurchase. XYZ's current share price is $19.64 and it currently has 26.63 million shares outstanding. In addition, the market value of the company's debt is $6 million. Assuming perfect markets, what will XYZ's share price be after it uses the excess cash to repurchase shares? Round your answer to two decimals (don't include the $-symbol in your answer).

Reference no: EM132673261

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