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

question 81

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 1,200 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)937 shares
• B)1,050 shares
• C)1,126 shares
• D)1,578 shares
• E)1,584 shares

---

Definitions:

Neural Tube

Is the precursor in embryonic development to the central nervous system, which comprises the brain and spinal cord.

Digestive System

The complex series of organs and glands responsible for the digestion, absorption, and processing of food.

Circulatory System

The body's system responsible for moving blood, nutrients, gases, and wastes to and from cells, helping to fight diseases and stabilize body temperature and pH.

Pancreas

A glandular organ in the digestive and endocrine systems of vertebrates that produces hormones and digestive enzymes.