A Firm Has a Market Value Equal to Its Book

A firm has a market value equal to its book value.Currently,the firm has excess cash of £600 and other assets of £5,400.Equity is worth £6,000.The firm has 500 shares outstanding and net income of £900.What will the new earnings per share be if the firm uses its excess cash to complete a share repurchase?

A) £1.20
B) £1.50
C) £1.80
D) £2.00
E) £2.40