Use the Information for the Question(s)below

question 42

Multiple Choice

Use the information for the question(s) below.
Luther is a successful logistical services firm that currently has $5 billion in cash. Luther has decided to use this cash to repurchase shares from its investors and has already announced the share repurchase plan. Currently, Luther is an all-equity firm with 1.25 billion shares outstanding. Luther's shares are currently trading at $20 per share.
-After the repurchase, how many shares will Luther have outstanding?

• A)1.1 billion
• B)1.0 billion
• C)0.75 billion
• D)1.2 billion

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