A firm has a market value equal to its book value. Currently, the firm has excess cash of $800 and other assets of $5200. Equity is worth $6000. The firm has 600 shares of stock outstanding and net income of $700. The firm has decided to spend all of its excess cash on a share repurchase program. How many shares of stock will be outstanding after the stock repurchase is completed?A firm has a market value equal to its book value. Currently, the firmhas excess cash of $800 and other assets of $5200. Equity is worth$6000. The firm has 600 shares of stock outstanding and net…
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