The balance sheet for Ferguson Corp. is shown here in market value terms. There are 6,000 shares of stock outstanding.
Market Value Balance Sheet
Cash $ 44,900
Equity $ 474,900
Fixed assets 430,000
Instead of a dividend of $1.80 per share, the company has announced a share repurchase of $10,800 worth of stock.
How many shares will be outstanding after the repurchase? (Do not round intermediate calculations. Round your final answer to 2 decimal places, e.g., 32.16.)
Shares outstanding
What will the price per share be after the repurchase? (Do not round intermediate calculations. Round your final answer to 2 decimal places, e.g., 32.16.)
New stock price $