Blasco's Has a Market Value Equal to Its Book Value

question 49

Multiple Choice

Blasco's has a market value equal to its book value. Currently, the firm has excess cash of $1,332, other assets of $11,674, and equity of $7,200. The firm has 600 shares of stock outstanding and net income of $838. Blasco's has decided to spend one-third of its excess cash on a share repurchase program. How many shares of stock will be outstanding after the stock repurchase is completed?

• A)537 shares
• B)550 shares
• C)563 shares
• D)578 shares
• E)584 shares

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Definitions:

Etiology

The study of the causes or origins of a disease or condition.

Prioritized

Prioritized means having been arranged or dealt with in order of importance or urgency, often to organize tasks, goals, or resources effectively.

Individualized

Tailored or customized to meet the specific needs or preferences of an individual, particularly in contexts like healthcare or education.

Decision Maker

An individual responsible for making choices or deciding on matters within a specific context, such as healthcare or business.