A firm has $75 million of assets that includes $12 million of cash and 25 million shares outstanding. If the firm uses $12 million of cash to repurchase shares, what is the new price per share?

A) $2.40
B) $1.50
C) $3.00
D) $6.00


Answer: C

Business

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Indicate whether the statement is true or false a. True b. False

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Business