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Tucker's National Distributing Has a Current Market Value of Equity

question 29

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Tucker's National Distributing has a current market value of equity of $32,400. Currently, the firm has excess cash of $2,100, total assets of $22,400, net income of $3,210, and 800 shares of stock outstanding. The company is going to use all of its excess cash to repurchase shares of stock. What will the stock price per share be after the stock repurchase is completed?


Definitions:

Tracheids

Long, thin cells in the xylem of vascular plants that help in the transport of water and minerals, and also provide support.

Pits

Small depressions or cavities on a surface or in a structure, often found in fruits or in the landscape.

Perforation Plates

Structures found in the water-conducting vessels of some plants, containing large pores that allow water to flow from one vessel element to another.

Sieve Plates

Specialized structures found in the phloem of plants that facilitate the flow of nutrients by containing pores through which sap can flow between cells.

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