A firm's market value balance sheet reports cash of
$310
, other assets of
$5,200
, and equity of
$6,200
. The firm has 1,000 shares of stock outstanding and net income of
$870
. The firm has decided to spend all of its cash on a share repurchase program. How many shares of stock will be outstanding after the stock repurchase is completed? Multiple Choice 644 shares 610 shares 910 shares 950 shares 900 shares

Question

A firm's market value balance sheet reports cash of

$310

, other assets of

$5,200

, and equity of

$6,200

. The firm has 1,000 shares of stock outstanding and net income of

$870

. The firm has decided to spend all of its cash on a share repurchase program. How many shares of stock will be outstanding after the stock repurchase is completed? Multiple Choice 644 shares 610 shares 910 shares 950 shares 900 shares

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