Assume that Omicron uses the entire $50 million to repurchase shares.The number of shares that Omicron will repurchase is closest to:

Question

Quizplus · Accepted Answer

To determine the number of shares that Omicron will repurchase, we need to divide the total amount allocated for repurchasing shares ($50 million) by the market price per share. The market price per share is given as $45.

Therefore, the number of shares that can be repurchased is:

$50 million / $45 per share = 1,111,111 shares

The closest option is C) 1.1 million shares.

Assume That Omicron Uses the Entire $50 Million to Repurchase