Infinity Completion, Inc

question 55

Multiple Choice

Infinity Completion, Inc.currently has 50,000 shares of stock outstanding and no debt.The price per share is $23.75.The firm is considering borrowing funds at 6 percent interest and using the proceeds to repurchase 5,000 shares of stock.Ignore taxes.How much is the firm borrowing?

• A)$138,000
• B)$118,750
• C)$84,000
• D)$1
• E)$125,000

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