Tucker's national distributing has a current market value of equity of $32,400. currently, the firm has excess cash of $2,100, total assets of $22,400, net income of $3,210, and 800 shares of stock outstanding. the company is going to use all of its excess cash to repurchase shares of stock. what will the stock price per share be after the stock repurchase is completed

$40.45

Explanation:

Given;

current market value of equity = $32,400

excess cash = $2,100

total assets = $22,400

net income = $3,210

Outstanding shares = 800

Price per share for the current shares

= current market value of equity / Outstanding shares

= $32,400 / 800

= $40.5

Now, the excess cash (i.e $2100) is used for purchasing shares

thus,

number of shares repurchased = excess cash  / Price per share

or

number of shares repurchased = $2,100 / ( $40.5 per share ) = 51.85

or 51 shares

Therefore, the number of outstanding shares = 800 - 51 = 749

Thus, new equity = current market value of equity - excess cash

= $32,400 - $2,100 = $30,300

Hence,

the stock price per share be after the stock repurchase is completed

= New equity / Outstanding share

= $30,300 / 749

= $40.45

answer; property tax payment made in july and december;

answer(8,000.)