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The shares will be purchased in the open market and no

A firm has $30 million in funds for the repurchase of shares in the marketplace. The firm is currently trading at a $1.06 per share. The shares will be purchased in the open market and no premium will be paid over current price. Please help me understand the steps to take to calculate how many shares will be repurchased?

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Business Management: The shares will be purchased in the open market and no

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