Question: A firm has a market value equal to its book value. Currently, the firm has excess cash of $11,000, other assets of $6, 900, and equity of $8,000. The firm has 800 shares of stock outstanding and net income of $1,000. The firm has decided to spend half of its excess cash on a share repurchase program. How many shares of stock will be outstanding after the stock repurchase is completed?