Suppose Contrail Air, Inc. is going to repurchase $22,800 shares of stock. The market value Balance...

Suppose Contrail Air, Inc. is going to repurchase $22,800 shares of stock. The market value Balance Sheet is provided below.

Repurchase	$22,800
Shares outstanding	12,000
Dividend per share	$1.20

Market Value Balance Sheet

Cash	$55,000	Equity	$465,000
Fixed assets	$410,000
Total	$465,000	Total	$465,000

What will the price per share be after the repurchase?

42.75

38.75

21.96

35.13

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jeff jeffy answered 1 year ago

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