The market value of Luther's non-cash assets is closest to ________
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 stock 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.
A) $20 billion
B) $19 billion
C) $25 billion
D) $24 billion
Answer: A
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