Startup Pipe has a market value equal to its book value. Currently, the company has excess cash of $14,652, other assets of $152,900, and equity valued at $144,300. There are 6,500 shares of stock outstanding and net income is $18,000. What will the new earnings per share be if the firm decides to use 50 percent of its excess cash to complete a stock repurchase

New EPS will be equal to $2.92

Explanation:

It is given equity = $144300

Stock outstanding = 6500

Excess cash of the company = $14652

Net income =$18000

It is given company decides to use 50% of its excess cash to complete stock purchase.

Price per share will be equal to

$

Number of shares repurchased =  

New EPS =

So new EPS will be equal to $2.92

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