Stepco inc has a market value equal to its book value, Financial Management

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Stepco inc has a market value equal to its book value

StepCo Inc. has a market value equal to its book value. Currently the firm has excess cash of $990 and other assets of $10,010. Equity is worth $11,000. The firm has 500 shares of stock outstanding. Stepco Inc. is going to use all of its excess cash to repurchase shares of stock. What will the stock price per share be after the stock repurchase is completed?

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Financial Management: Stepco inc has a market value equal to its book value

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