Galt Industries has 125 million shares outstanding and has a marginal corporate tax rate of 35%.Galt announces that it will use $75 million in excess cash to repurchase shares.Shareholders had previously assumed that Galt would retain this excess cash permanently.The amount Galt's share price can be expected to change upon this announcement is closest to:
A) $0.21
B) $0.24
C) $0.36
D) $0.39
Correct Answer:
Verified
Q42: Use the information for the question(s)below.
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Q49: Use the information for the question(s)below.
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Q55: Which of the following statements is FALSE?
A)Once
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