The Press has total assets of $848,000 and total debt of $402,000 on a market value basis. There are 25,000 shares of stock outstanding. The company has announced it is going to repurchase $40,000 worth of stock in the open market. What will be the price per share after the repurchase

$17.84

Explanation:

The following can be reduced.fromcthe question:

Total Assets = $848,000

Total Debt = $402,000

Total equity = Total asset - total debt

= $848,000 - 402,000

= $446,000

Outstanding Shares = 25,000

Value per shares:

= $446,000/25,000

= $17.84

Value of shares repurchased =$40,000

Number of shares repurchased:

= $40,000/17.84

= 2,242.15

= 2242 approximately

Number of shares outstanding:

= 25,000 - 2,242

= 22,758

Value of shares outstanding:

= $446,000 - 40,000

= $406,000

Price of Shares = Value of shares/number of shares

= $406,000 / 22,758

= $17.84

answer; i believe that the correct answer is ; (a) customer demand for the

statement of owner"s equity;