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