Shares of Modern Data are selling for $150 per share. There are three million shares outstanding. What will be the share price if the company repurchases 345,000 of its shares at $150 apiece? Ignore taxes. $150. $169.50. Not possible to determine. $130.5. $168.
Shares of Modern Data are selling for $150 per share. There are three million shares outstanding. What will be the share price if the company repurchases 345,000 of its shares at $150 apiece? Ignore taxes. $150. $169.50. Not possible to determine. $130.5. $168.
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter15: Distributions To Shareholders: Dividends And Repurchases
Section: Chapter Questions
Problem 6MC: Suppose IWT has decided to distribute $50 million, which it presently is holding in liquid...
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![Question 3
Shares of Modern Data are selling for $150 per share. There are three million
shares outstanding. What will be the share price if the company repurchases
345,000 of its shares at $150 apiece? Ignore taxes.
$150.
$169.50.
Not possible to determine.
$130.5.
$168.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3c1b79bd-ec90-48fd-be7a-92b723031db9%2F975904ce-00d5-4366-abc9-8598dc8fa505%2Fy3rbwe_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 3
Shares of Modern Data are selling for $150 per share. There are three million
shares outstanding. What will be the share price if the company repurchases
345,000 of its shares at $150 apiece? Ignore taxes.
$150.
$169.50.
Not possible to determine.
$130.5.
$168.
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