The balance sheet for Levy Corp. is shown here in market value terms. There are 8,000 shares of stock outstanding. Market Value Balance Sheet Cash $ 44,400 Equity $ 424,400 Fixed assets 380,000 Total $ 424,400 Total $ 424,400 Instead of a dividend of $1.20 per share, the company has announced a share repurchase of $9,600 worth of stock.
How many shares will be outstanding after the repurchase?
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.)