Eisley's Has a Market Value Equal to Its Book Value,excess

Multiple Choice

Eisley's has a market value equal to its book value,excess cash of $528,other assets of $13,900,and equity of $9,900.The firm has 600 shares of stock outstanding and net income of $1,450.Assume the firm uses all of its excess cash for a stock repurchase.What will the price per share be after the repurchase?

A) $16.50
B) $17.80
C) $18.00
D) $15.90
E) $17.67