The balance sheet for Levy Corp. is shown here in market value terms.
There are 10,000 shares of stock outstanding.
Market Value Balance Sheet
Cash $ 45,400
Fixed assets 480,000
Total $ 525,400
Instead of a dividend of $1.70 per share, the company has announced a share repurchase of $17,000 worth of stock.
How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your 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 and round your answer to 2 decimal places, e.g., 32.16.)
New stock price $