Beta Industries has net income of $3,800,000, and it has 870,000 shares of common stock outstanding. The company’s stock currently trades at $70 a share. Beta is considering a plan in which it will use available cash to repurchase 15% of its shares in the open market. The repurchase is expected to have no effect on net income or the company’s P/E ratio. What will be its stock price following the stock repurchase? Round your answer to two decimal places.
The post finance question 1 appeared first on BlueOrigin EssayWriters.
Plagiarism Free Assignment Help
Expert Help With This Assignment — On Your Terms
✓ Native UK, USA & Australia writers
✓ Deadline from 3 hours
✓ 100% Plagiarism-Free — Turnitin included
✓ Unlimited free revisions
✓ Free to submit — compare quotes