Solved: The repurchase is expected to have no effect on net income, Cost Accounting

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The repurchase is expected to have no effect on net income

STOCK REPURCHASES Beta Industries has net income of $2,000,000, and it has 1,000,000 shares of common stock outstanding. The company's stock currently trades at $32 a share. Beta is considering a plan in which it will use available cash to repurchase 20% of its shares in the open market.

The repurchase is expected to have no effect on net income or the company's P/E ratio. What will be Beta's stock price following the stock repurchase?

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Cost Accounting: The repurchase is expected to have no effect on net income

Reference No:- TGS0816790

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Cost Accounting: The repurchase is expected to have no effect on net income

Reference No:- TGS0816790

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