Alfredo Ltd of Ottawa fiRm Has a Market Value Equal

question 44

Multiple Choice

Alfredo Ltd of Ottawa firm has a market value equal to its book value. Currently, the firm has excess cash of $1,360 and other assets of $6,640. Equity is worth $8,000. The firm has 500 shares of stock
Outstanding and net income of $600. The firm has decided to spend all of its excess cash on a
Share repurchase program. How many shares of stock will be outstanding after the stock
Repurchase is completed?

• A) 382 shares
• B) 400 shares
• C) 415 shares
• D) 445 shares
• E) 575 shares

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