AMC Corporation currently has an enterprise value (EV) of $390 million and $100 million in excess cash. The firm has 20 million shares outstanding and no debt. Suppose AMC uses its excess cash to repurchase shares. After the share repurchase, news will come out that will change? AMC's enterprise value to either $590 million or $190 million. What is AMC's share price after the repurchase if its enterprise value goes up? What is AMC's share price after the repurchase if its enterprise value declines?
AMC's share price after the repurchase if its enterprise value goes up is -----