Homework Answers
Total Value of shares
Total Value of shares = 490,000 shares x $48.70 per share
= $23,863,000
The number of shares repurchased
The number of shares repurchased = $69,000 / $48.70 per share
= 1,417 shares
The number of shares after repurchase
The number of shares after repurchase = 490,000 shares – 1,417 shares
= 488,583 shares
The shares price after the repurchase
Therefore, the shares price after the repurchase = [$23,863,000 - $69,000] / 488,583 shares
= $23,794,000 / 488,583 shares
= $48.70 per share
“Hence, the shares price after the repurchase will be $48.70”
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