Homework Answers
| a] | Par value of each share = 350/700 = | $ 0.50 | |
| b] | Average price = (350+6650)/700 = | $ 10.00 | |
| c] | Sahres repurchased = Shares issued-Shares outstanding = 700,000,000-650,000,000 = | 50,000,000 | |
| d] | Average price of repurchase = 600,000,000/50,000,000 = | $ 12.00 | |
| e] | Net book value of equity = 350+6650+5000-600 = | $ 11,400.00 | million |
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