How many shares will remain after the repurchase round your


A firm has 15 million shares outstanding with a market price of $60 per share. The firm has $33 million in extra cash (short-term investments) that it plans to use in a stock repurchase; the firm has no other financial investments or any debt. What is the firm's value of operations after the repurchase? Enter your answer in millions.

How many shares will remain after the repurchase? Round your answer to the nearest whole number.

 

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