1. On its 2017 balance sheet, Walgreens Boot Alliance, Inc., reports treasury stock at cost of $4,934 million. The company has a total of 1,172,513,618 shares issued and 1,082,986,591 shares outstanding.
What average price did Walgreens pay for treasury shares?
A. $55.15
B. $53.29
C. $53.03
D. $55.11
E. None of the above
2. Berkshire Hathaway buys on terms of 3/15, net 60. It does not take the discount, and it generally pays after 90 days. What is the nominal annual percentage cost of its non-free trade credit, based on a 365-day year?
A. 15.05%
B. 25.09%
C. 30.35%
D. 33.39%