The balance sheet for Throwing Copper, Inc., is shown here in market value terms. There are 28,000 shares of stock outstanding. Market Value Balance Sheet Cash $ 111,000 Fixed assets 524,600 Equity $ 635,600 Total $ 635,600 Total $ 635,600 The compay has announced it is going to repurchase $22,400 worth of stock instead of paying a dividend of $.80. What effect will this transaction have on the equity of the firm? (Input the answer as positive value. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Will shareholders’ equity by $ How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
New shares outstanding 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.) Share price $