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Assume the firm uses all of its excess cash for a stock

Timon's has a market value equal to its book value, excess cash of $528, other assets of $13,900, and equity of $9,900. The firm has 600 shares of stock outstanding and net income of $1,450. Assume the firm uses all of its excess cash for a stock repurchase. What will the price per share be after the repurchase?

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Finance Basics: Assume the firm uses all of its excess cash for a stock

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