The balance sheet for Fourth Corp. is shown here in market value terms. There are 10,000 shares of stock outstanding.
Market Value Balance Sheet
Cash $ 45,000 Equity $ 485,000
Fixed assets 440,000
Total $ 485,000 Total $ 485,000
Instead of a dividend of $1.90 per share, the company has announced a share repurchase of $19,000 worth of stock.
How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
What will the price per share be after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
