Pampered Pets Has a Market Value Equal to Its Book

Pampered Pets has a market value equal to its book value. Currently, the firm has excess cash of $4,560 and other assets of $148,000. Equity is worth $91,200. The firm has 1,200 shares of stock outstanding and net income of $1,600. Pampered Pets has decided to spend all of its excess cash on a share repurchase program. How many shares of stock will be outstanding after the stock repurchase is completed?

A) 1,120 shares
B) 1,124 shares
C) 1,133 shares
D) 1,140 shares
E) 1,151 shares