Use the Following Information to Answer the Question(s)below

question 91

Multiple Choice

Use the following information to answer the question(s) below.
Wyatt Oil has assets with a market value of $600 million,$70 million of which are cash.It has debt of $250 million,and 20 million shares outstanding.Assume perfect capital markets.
-If Wyatt Oil distributes the $70 million as a share repurchase,then its stock price after the share repurchase will be closest to:

• A)$11.00.
• B)$12.50.
• C)$14.00.
• D)$17.50.

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Definitions:

Java.io

A package in Java that contains classes for system input and output through data streams, serialization, and the file system.

Java.awt

A package in Java that contains classes for creating graphical user interfaces and for painting graphics and images.

Java.lang

The fundamental package in the Java programming language that provides classes that are essential to the design of the Java programming language.

Implements

A keyword in Java used by classes to specify that they will provide implementations for the methods defined in an interface.